Customize Invoices and Payments Report in QuickBooks for Accurate Tracking

Are you tired of manually calculating the total amount of invoices and payments in QuickBooks? Do you want to get a clear picture of your company's financial performance without spending hours on calculations? Look no further! In this article, we'll show you how to customize the Transaction List by Customer report to get accurate and detailed information about your customers' transactions.

Why Customize the Report?

Before exporting the report to Excel, you can customize it to include all the details you need. By doing so, you'll be able to get a clear understanding of each customer's transactions without having to manually calculate the totals.

Customizing the Report

To start customizing the report, follow these steps:

1. Open the Transaction List by Customer report.

2. In the Filters tab, select Transaction Type from the FILTER menu.

3. In the Display tab, set the appropriate reporting date under the REPORT DATE RANGE section.

4. Choose Customers & Receivables, then select Transaction List by Customer.

Netting Transactions

One of the biggest challenges in tracking financial transactions is getting a clear picture of the net balance for each customer. By default, QuickBooks doesn't recognize invoices and sales receipts as positive numbers and payments, credit memos as negative numbers. This can make it difficult to get an accurate net balance.

However, there is a way to overcome this limitation. You can export the report to Excel and manually adjust the sign of all payments and then sum them up. But what if you could automate this process?

Getting a Net Total

The Transaction List by Customer report provides a total amount for each customer's transactions. However, this total is not necessarily the net balance between invoices and payments. To get an accurate net balance, you'll need to manually adjust the sign of all payments.

But don't worry! By customizing the report, you can get an accurate net balance without having to manually calculate it. Simply select Multiple Transaction Types from the Transaction Type drop-down menu and set up your filters accordingly.

Memorize the Report

To save its current customization settings, we recommend memorizing this report. This way, you'll be able to easily access the customized report whenever you need it.

Customizing the Transaction List by Customer report in QuickBooks is a simple yet effective way to get accurate and detailed information about your customers' transactions. By following these steps, you can automate the process of getting a net balance between invoices and payments, making it easier to track your company's financial performance.

If you have any questions or need further assistance, don't hesitate to tag us in your comments. We're always here to help!

Quickbook custom invoices