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Phil W
October 19, 2022
Question

Overview perspective

  • October 19, 2022
  • 2 replies
  • 0 views

Hello,

I recently subscribed to Quickbooks. To keep track of my finances, I was using an excel spreadsheet before. What I liked about the excel spreadsheet was that I could see everything on one page. With Quickbooks, it seems I cannot see everything on one page. Really? Can't be done? I can't believe this can't be done. Somebody please help?

2 replies

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LollyNino_C
October 19, 2022

Hello there, @Phil W. Thank you for posting here in the Community.

 

I want to ensure I can provide a timely solution to keep track of your finances. Thus, I have to ask for more details about your concern so I can come up with the best resolution for you.

 

Did you encounter a specific error message while doing the process? Additional details about would be much appreciated such as screenshots and error message. 

 

Let me know, I’m looking forward to your reply. Have a great day.

Rainflurry
Rainflurry
October 19, 2022

@Phil W 

 

QuickBooks (QB) is designed to produce financial statements that comply with accounting standards.  It is based on double-entry accounting which means that every entry into QB affects two different accounts - some that impact your profit & loss statement, others affect your balance sheet or a combination of the two.  When you're using Excel, you are using single-entry accounting, which is basic and meets the needs of some small businesses, but it is the equivalent of a horse and buggy.  It is necessary to have a profit & loss statement to see how your business performed over time and a balance sheet to see your assets, liabilities, and equity at a certain point in time.  Additionally, you need a cash flow statement to see the change in your cash position over time.  So, no, there is not one report that can show everything.   

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