Computerized Farm Record Keeping

Bulletin 890-01

Reports

Using a computer to keep your farm records makes record keeping easier. It allows you to make greater use of your farm record data. Time savings may be the greatest benefit. While you may not save time during the data entry stage, the time savings and improved accuracy in the report stage will be significant. The examples in this chapter show some of the common business reports useful in analyzing your farm business.
The following reports can be found in the Reports and Graphs Center.

Creating Reports

From the menu bar Click Reports, Click Reports and Graphs Center (or Click Reports & Graphs on the Quick Tabs list), select from the list of topics, and then Click the report or graph you want.
Set the date range you want the report or graph to include. For reports or graphs on a specific balance, such as a net worth, enter one date.
Click Create Now to create the selected report.

Customizing Reports

Quicken gives you great flexibility in customizing your reports. You can change the layout, date range, accounts to include, and various other settings. You can also filter the report, for example, to include transactions with only certain payees or categories.

Your reports can be customized in two ways. While you are creating the report you can Click the Customize button in the SELECT A REPORT OR GRAPH window. Or, once the report has been created, Click the Customize button in the report toolbar.

When the CUSTOMIZE REPORT window is opened there are four tabs to choose from:
1) Display - this tab allows you to change the report layout. You can set date parameters for the report, change report title, change row and column headings, show cents and percents and change report organization.
2) Accounts - this tab allows you to set date parameters for the report and select which accounts to include or exclude from the report.
3) Include - this tab allows you to set date parameters for the report, select which categories to include and sort data by payee, category, class or memo line.
4) Advanced - this tab allows you to set date parameters for the report, sort transactions by dollar amounts, tax status, transaction type and include or exclude transfers or subcategories.

Quick Zoom

This feature allows you to examine the detail in some reports, such as a Profit & Loss Statement.

Double Click on the amount in question when the arrow pointer becomes a magnifying glass. To examine a transaction in the register Double Click the report line. To return to the Quick Zoom report from the register, Click X. To return to the original report, Click X in the top right corner of the Quick Zoom report.

Memorizing Reports

While the report is on screen, Click the Memorize button on the report toolbar, Type a title, Set the report date and Click OK.

To access your list of memorized reports and graphs, from the menu bar Click Reports, Click Reports and Graph Center (or Click Reports & Graphs on the Quick Tabs list), Click Memorized reports and graphs, and Click the memorized report name you want to use.
If changes have occurred in your categories, classes, or accounts since memorizing a report, the next time you use that memorized report you will get a warning message. Review the categories, classes and accounts included in the memorized report, make any necessary changes to the categories, classes and accounts to be included in the report, memorize and replace the memorized report.

Printing Reports

To print a report, Click File from the menu bar, Click Print Report to open the PRINT window and Click OK. [Ctrl+P] will also open PRINT window.

If a report is too big to fit on regular paper, Click Customize, Click Cents in Amounts to off. If the report is still too large Click File from the menu bar, Click Printer Setup and Click For Reports/Graphs to try reducing the left and right margins. The heading and body fonts can also be adjusted from this window. Page orientation (portrait or landscape) and font sizes can be adjusted from the PRINT window.

Types of Reports and Example Reports

The following are types of reports and their descriptions that would be used in a farm business. Examples of these reports and the keystrokes needed to create them follow after the report descriptions.

1) Register Report -

This is a detailed report listing transactions in one register. This report is useful to check for data entry errors or to have a paper trail of all your transactions. It can be printed daily, monthly, quarterly, etc. A report can be printed for each register.

Click Report on the register toolbar, Click Register Report.
**Note** This report is for the checking account currently opened.

2) Transactions Report -

This is a detailed report listing transactions from one or more registers showing individual transactions. To see a running total of balances, print your register and preview it on screen. You can sort and subtotal transactions by payee, category, class, account, or time period.

From the menu bar, Click Reports, Click Reports and Graphs Center, Click How am I spending my money, Click Transaction Report, set report date, Click Create Now.

3) Transaction Report - Grain Sales by Class

Shows transactions sorted by category and class. Use the memo line to help record desired detail in the transactions.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How am I spending my money, Click Transaction Report, set report date, Click Customize, Click Subtotal By Class, Click Include, Click Clear All, Click Grain Sold, Click Create.

4) Tax Summary Report

This report lists transactions with tax-related categories from all accounts. It groups and subtotals the transactions by category income first and then expenses.

To review the tax status of your categories, Click Finance, Click Category & Transfer List. To change the tax status of your categories, see Editing Categories in the Categories and Classes chapter.

From the menu bar Click Reports, Click Reports and Graphs Center, Click What is my tax situation, Click Tax Summary, set report date, Click Create Now.

5) Tax Summary - Totals Only

Same as previous report, but with less detail.

From the menu bar Click Reports, Click Reports and Graphs Center, Click What is my tax situation, Click Tax Summary, set report date, Click Customize, Click Totals Only, Click Create.

6) Cash Flow -

This preset report summarizes your income and expenses by category. It covers all bank, cash, and credit card accounts.

A cash flow report initially excludes transfer transactions that occur between the accounts included in the report (that is, between bank, cash, and credit card accounts.) For example, Quicken does not include a transfer of funds from checking to savings. However, this can be changed by customizing the report.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How is my business doing, Click Cash Flow Report, set report date, Click Customize, Click Advanced, Click Transfers, Click Include All, Click Create.

7) Cash Flow - by Quarter

This report is sorted by quarter. This report can be sorted in other ways.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How is my business doing, Click Cash Flow Report, set report date, Click Customize, Click down arrow by Column, Click Quarter, Click Advanced, Click Transfers, Click Include All, Click Create.

8) Profit & Loss Statement -

The P & L (Profit and Loss) Statement report summarizes the revenue and expenses of a business by category. It includes all your accounts.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How is my business doing, Click Profit and Loss Statement Report, set report date, Click Create Now.
**NOTE** When working with your own records, you will need to review the list of categories and limit them to business income and expense categories for this report to approximate net cash farm income.

9) P&L Statement Report - With Percents

Same as previous report, but shows percentage breakdown of income and expenses.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How is my business doing, Click Profit and Loss Statement Report, set report date, Click Customize, Click Amount as %, Click Create.

10) Profit & Loss Statement by Class

Same as report 8 (P&L statement), but sorted by class to facilitate enterprise analysis.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How is my business doing, Click Profit and Loss Statement Report, set report date, Click Customize, Click down arrow by Column, Click Class, Click Create.
**NOTE** To print this report you must change page orientation to Landscape. See notes at beginning of this chapter.

11) Transaction Report - 1099's

This transaction report lists all the people and businesses you have made tax-related payments to during the year. From this list, you can determine which ones need to be furnished with 1099 information forms.

Form 1099-Misc. is issued to persons or non-incorporated businesses who are not your employees and who you paid $600 or more during the year for business expenses. Typical expenses reported would be cash rents, custom work, building repairs, accounting and legal fees and other expenses paid to individuals or non-incorporated businesses. Expenditures for seed, feed, fertilizer and lime, parts, fuel, livestock and other supplies are not reported.

If you are paying more than $600 in business interest to an individual, you would report that interest on Form 1099-Int.

From the menu bar Click Reports, Click Reports and Graphs Center, Click How am I spending my money, Click Transaction Report, set report date, Click Customize, Type Title - Form 1099 Report, Click Subtotal by: Click Payee, Click Totals Only, Click Accounts, Click Mark All, Click Include, Click Mark All, Click Advanced, Click Tax-related Transactions Only, Click Transaction Types, Click Payments, Click Create.