Save Customization or Memorize Profit & Loss Reports 3080 QuickBooks Online 2024

In QuickBooks Online 2024, mastering the art of presenting customized and memorized Profit and Loss reports is essential for effective communication with clients. Let’s dive into the streamlined process:

Navigate to QuickBooks Online:
Open your browser and search for the QuickBooks Online test drive. Ensure the URL is from, select the United States version, and verify your humanity.

Access Financial Statements:
Open major financial statement reports by right-clicking on the balance sheet and profit and loss in the favorites, selecting “Open Link in New Tab.”

Set Date Range:
Change the date range by going back to 2020, for example, from 3010123 to 12301230. Run to refresh the reports.

Customize Profit and Loss Reports:
Consider your audience—likely non-accountants—and make the reports visually appealing. Customize fields, collapse columns for a summary, and even create vertical and horizontal analysis reports.

Save Customization:
Save customized reports for easy access. Organize them into groups like “Month-end Reports” for quick retrieval.

Delivery Options:
Determine the best way to deliver reports. Options include emailing secure attachments, printing and mailing, or using electronic transfers.

Export to Excel:
While exporting to Excel is an option, consider using Excel for formatting purposes rather than delivering raw data. It allows further customization.

Use a PDF Printer:
Create a polished PDF file by using a PDF printer. Combine multiple reports into a single PDF for ease of access.

Utilize Cloud Drives:
Share reports through cloud drives like OneDrive, Dropbox, or Amazon. Ensure accessibility and security.

Management Reports:
Leverage management reports to consolidate and present a comprehensive financial overview, including both balance sheet and income statement details.

Presentation Matters:
Remember that the presentation of reports is crucial. Attention to detail, neatness, and a professional look boost client confidence, especially when dealing with non-accountants.

Continuous Improvement:
Regularly update and refine your report delivery methods based on client needs and feedback. Strive for continuous improvement in both content and presentation.

By following these steps, you not only customize and memorize Profit and Loss reports efficiently but also present them in a way that instills confidence in your clients. In the world of QuickBooks Online 2024, the key is not just data accuracy but effective communication and presentation.

Bank Feeds & Your Accounting System 1017 QuickBooks Online 2024

Welcome to the world of QuickBooks Online 2024, where we’ll explore the intricacies of bank feeds and seamlessly integrate them into your accounting system. Join us on this journey to Cloud Nine as we delve into the QuickBooks Online test drive, the primary tool for the first part of our course.


Acts Discreditable Rule 19170 Auditing

In today’s presentation, we delve into the X Credible Rule, a cornerstone in the ethical framework for public accounting firms, specifically addressing CPA firms and their engagements. This rule outlines a set of principles that members must adhere to, promoting credibility, integrity, and ethical conduct within the profession.


X Credible Rule Overview:

The X Credible Rule encompasses various facets of professional conduct, including but not limited to:

  1. Discrimination and harassment in employment practices.
  2. Solicitation or disclosure of CPA examination questions and answers.
  3. Failure to file a tax return or pay tax liability.
  4. Negligence in the preparation of financial statements or records.
  5. Failure to comply with governmental bodies, commissions, or regulatory agencies.
  6. Improper use of confidential information obtained from employment or volunteer activities.
  7. False, misleading, or deceptive acts in promoting or marketing professional services.
  8. Improper use of the CPA credential.

Advertising and Solicitation Rules:

1. False, Misleading, or Deceptive Advertising:

  • Prohibits advertising in a manner that is false, misleading, or deceptive.
  • Caution against overreaching or harassing conduct in advertisements.
  • Emphasizes the importance of truthful naming conventions, avoiding implications that are not factual.

2. Prohibited Forms of Advertising:

a. Creating false or unjustified expectations of favorable results. b. Implying an ability to influence any court, tribunal, regulatory agency, or similar body official. c. Claiming specific professional services and fees without disclosing the likelihood of substantial increases. d. Making representations likely to cause misunderstanding or deception to a reasonable person.

Form of Organization and Name:

1. Naming Conventions:

  • Public accountants may practice only in a legal form of organization.
  • Firm names must conform to legal regulations and resolutions of counsel.
  • Names of past partners can be included in the firm name of a successor organization.

2. Use of AICPA Designation:

  • A firm may not designate itself as a member of the AICPA unless every CPA owner is a member of the institution.


Adhering to the X Credible Rule is paramount for public accounting firms, ensuring the highest standards of professionalism, integrity, and ethical conduct. By understanding and implementing these principles, CPA firms contribute to a credible and trustworthy financial environment for their clients and the broader community.



Audit Prepaid Expenses 14110

In this comprehensive presentation, we will delve into the intricacies of auditing prepaid expenses, with a primary focus on the audit process related to prepaid insurance. Prepaid expenses, categorized under other assets, pose unique challenges in the audit process due to the nature of payment preceding the receipt of benefits.


General Standards & Compliance, Accounting Principles & Confidential Client Information 9150

In the dynamic world of accounting, professionals are tasked with the critical responsibility of ensuring financial transparency, adhering to established standards, and safeguarding confidential client information. This presentation dives into the intricate web of general standards, compliance accounting principles, and the delicate handling of confidential client data.


Departure from Unqualified Report 18120 Auditing

In the complex world of financial auditing, the standard unqualified report stands as the pinnacle of assurance, affirming that the financial statements are in conformity with generally accepted accounting principles (GAAP). However, auditors often encounter situations that lead to departures from this standard, raising flags and demanding a closer examination. In this presentation, we delve into the scenarios where deviations occur, the types of reports they may trigger, and the implications for both auditors and the entities being audited.


Effect of Information Technology on Internal Controls 6020 Auditing

In today’s presentation, we delve into the intricate realm of how information technology (IT) shapes and influences internal controls within the business landscape. The fusion of businesses, internal controls, and auditing with advancing technology presents auditors with both opportunities and challenges. It necessitates collaboration with IT specialists to ensure the effective implementation of internal controls. This presentation explores the nuanced landscape, weighing the benefits and potential pitfalls of IT in internal controls.


Internal Control Flowchart 6050 Auditing


In this presentation, we will delve into the intricacies of internal controls, exploring the design, implementation, and assessment processes critical for a comprehensive audit. Our journey begins with establishing an understanding of internal controls, followed by the crucial decision of whether to rely on these controls or opt for more substantive testing. This decision-making process is particularly crucial for auditors working with publicly traded companies versus smaller enterprises.


  1. Understanding Internal Controls: Our first step involves deciphering the design of internal controls. We analyze the mechanisms in place to ensure the accuracy and reliability of financial reporting. Once this understanding is achieved, the next critical step is to document these internal controls comprehensively.
  2. The Decision Point: A pivotal moment arises when the auditor must decide whether to rely on the internal controls. For publicly traded companies, reliance is often the preferred strategy due to time constraints. In contrast, smaller companies may necessitate a more robust substantive testing approach.
  3. Substantive Testing for Smaller Companies: For situations where reliance on internal controls is deemed insufficient, a substantive testing strategy takes precedence. Control risk is set at the maximum, acknowledging the higher likelihood of internal controls missing material misstatements. Substantive testing is then intensified to ensure a thorough examination of account balances and transactions.
  4. Reliance Strategy for Larger Companies: When internal controls are considered reliable, a reliance strategy is adopted. This involves planning and executing tests of controls to validate the efficacy of the established checks and balances. By relying on internal controls, auditors can streamline their procedures and focus on the effectiveness of these control mechanisms.
  5. Assessing Control Risk: Following the tests of controls, the auditor assesses the control risk level. A critical question arises: Does the achieved level of control risk align with the planned level? If yes, the audit process proceeds seamlessly. If not, adjustments are made, and the level of substantive testing is revised accordingly.
  6. Revision of Substantive Procedures: In cases where control risk deviates from the initial plan, auditors must adapt. The planned level of substantive testing is adjusted to accommodate the changes in control risk. This iterative process ensures that the audit remains dynamic, addressing real-time assessments of internal controls.
  7. Documenting Control Risk: The final stage involves documenting the assessed level of control risk. This documentation becomes the foundation for performing substantive procedures based on the determined control risk level, ultimately guiding auditors to the ground floor of account-level and transaction-level testing.

Conclusion: Navigating the landscape of internal controls in the audit process requires a strategic and flexible approach. Whether relying on controls or adopting a substantive testing strategy, auditors must make informed decisions that align with the unique characteristics of the entities under examination. The iterative nature of this process ensures adaptability, ultimately enhancing the accuracy and reliability of the audit results.



Mean and Outliers 1417 Statistics & Excel

In the world of data analysis, understanding statistics is paramount. Excel, a powerful tool for data manipulation, plays a crucial role in unraveling the intricacies of datasets. In this blog, we delve into the world of statistics and Excel, focusing on mean and outliers. For those using OneNote, we’ve included a reference to the corresponding tab and presentations.


Sales Journal Inventory Excel Practice Problem 60

In this presentation, we will discuss the process of recording transactions in a sales journal. We will use the information related to sales to demonstrate this process, particularly focusing on transactions involving both accounts receivable, sales, and cost of goods sold, which typically occurs when selling inventory items. This is in contrast to businesses that don’t deal with inventory, such as service companies, which would have a simpler sales journal with only accounts receivable and sales entries.