Top 5 Limitations in Reporting Using QuickBooks Online

QuickBooks Online, a popular accounting software from Intuit, is widely used by small businesses and freelancers for their business accounting needs. However, despite its user-friendly interface and basic functionality, many business owners encounter significant limitations when it comes to reporting. This article explores the top five cons of QuickBooks Online in reporting and offers potential solutions.

The Disadvantages of QuickBooks: Reporting Challenges

1. Customization Constraints in QuickBooks Online Reporting

Limited Built-in Custom Reports

While QBO provides standard reports, users often struggle to tailor them to specific business needs. This limitation becomes apparent when trying to create:

  • Department-specific reports
  • Granular details by product line
  • Custom financial reports

Many businesses resort to third-party apps or extensive manual work to achieve the level of customization they need. The lack of advanced reporting options in QuickBooks Online often leads to inefficiencies and frustration among entrepreneurs and bookkeepers.

Lack of Advanced Filtering and Grouping Options

QuickBooks Online restricts users’ ability to filter data using complex conditions. This limitation becomes evident when trying to:

  • Apply multi-layered filters (e.g., by date, location, and product category simultaneously)
  • Create advanced groupings beyond basic levels
  • Sort data using multiple criteria

These constraints can significantly impact the functionality of the accounting solution for businesses with complex reporting needs, especially when compared to the QuickBooks Desktop version.

2. File Size and Data Handling Limitations

Struggles with Large Datasets

QuickBooks Online reports often struggle to process large volumes of data efficiently. This limitation leads to:

  • System crashes when generating comprehensive reports
  • The need to break up reports into smaller chunks
  • Reduced date ranges to avoid performance issues

For businesses managing large volumes of transactions, this limitation causes significant inefficiencies in their accounting and bookkeeping processes, particularly for those dealing with ecommerce or multiple bank accounts.

Limited Date Ranges for Reports

QuickBooks Online frequently encounters issues when handling year-long or multi-year reports. Users experience:

  • System crashes or timeouts when attempting to generate long-term reports
  • The need to export data month by month for accurate reporting
  • Difficulties in analyzing long-term trends or year-over-year comparisons

These limitations are particularly problematic for businesses that need to analyze historical financial data or prepare comprehensive financial reports for profitability analysis.

3. Integration Limitations

Difficulty Syncing with External Tools

Users face challenges when trying to integrate QuickBooks Online with other platforms to generate comprehensive reports. This limitation affects:

  • Syncing with CRM systems
  • Integration with inventory management software
  • Consolidating data for project management and job costing

Businesses relying on multiple systems find QuickBooks Online’s limited integration capabilities to be a major bottleneck for creating consolidated reports that provide a holistic view of their operations.

Reliance on Manual Processes Due to Limited Integration

The lack of seamless integration often forces users to resort to manual data transfers or rely heavily on spreadsheets like Excel. This workaround:

  • Increases the chance of human error
  • Consumes valuable time and resources
  • Limits real-time reporting capabilities

Many businesses find themselves spending excessive time on manual data entry and consolidation due to these integration limitations, which can be particularly challenging for medium-sized businesses with complex workflows.

4. Performance Issues with Larger Data

Lagging and Sluggish Performance

As businesses scale and their data grows, QuickBooks Online’s performance often degrades. Users experience:

  • Slower response times when generating reports
  • Difficulties handling multiple users accessing the system simultaneously
  • Increased wait times for routine financial analysis

These performance issues can lead to significant inefficiencies, especially for businesses that rely on timely financial information for decision-making. The problem is often exacerbated for companies using the Simple Start or basic versions of QuickBooks Online.

Inconsistent Load Times for Reports

Users report varying load times when running complex or multi-year reports in QuickBooks Online. This inconsistency results in:

  • Unpredictable wait times for report generation
  • System crashes during report creation
  • Difficulties in scheduling regular financial reviews

These issues can disrupt workflows and make it challenging to maintain consistent reporting schedules, particularly for businesses that require frequent bank reconciliation or detailed expense tracking.

5. Inadequate Support for Complex Businesses

Multi-EntityReporting

QuickBooks Online struggles to provide sufficient support for businesses with multiple locations, divisions, or entities. This limitation affects:

  • Generating consolidated reports across multiple business units
  • Providing detailed breakdowns by division or location
  • Comparing performance across different segments of the business

Users face significant challenges when trying to create reports that offer a comprehensive view of their complex business structures, often requiring add-ons or separate instances of QuickBooks Online for each entity.

Lack of Granular Control over User Permissions for Reporting

QuickBooks Online‘s limited permissions framework complicates reporting for businesses with multiple users needing different levels of access. This results in:

  • Difficulties in restricting sensitive financial data
  • Challenges in delegating report creation tasks
  • Inability to customize user access based on roles or departments

These limitations can lead to security concerns and inefficiencies in report distribution and management, especially for businesses with a higher number of users or those requiring strict financial controls.

Addressing QuickBooks Online Reporting Challenges

While QuickBooks Online offers many advantages for small businesses and self-employed individuals, its reporting limitations can be significant for growing companies. To overcome these challenges, businesses can consider the following solutions:

Expand Report Customization Options

To overcome QuickBooks Online’s built-in limitations, businesses can leverage cloud-based solutions like Coefficient that integrate with spreadsheet software, enabling highly customizable reports. With Coefficient, users can:

  • Create tailored reports with advanced filtering and sorting options
  • Design custom layouts and formats without switching between tools
  • Incorporate data from multiple sources into a single report

Automate Data Syncing 

Cloud-based solutions can automate the data import and export process, making it easier to handle large datasets without breaking reports into smaller chunks. This approach:

  • Eliminates the need for manual data entry or exports
  • Reduces the risk of errors associated with manual data handling
  • Allows for real-time data sync from multiple sources

Integrate QuickBooks Online with Other Business Tools

By using Coefficient to integrate QuickBooks Online with other platforms like HubSpot, businesses can gain a deeper understanding of their overall performance and financial health:

  • Combine financial data with sales and marketing metrics for comprehensive insights
  • Automate data syncing to ensure real-time accuracy across all reports
  • Create custom dashboards that blend data from multiple sources for holistic analysis

Evaluate Your Options: When to Consider Alternatives

For businesses that find QuickBooks Online’s limitations too restrictive, it may be worth exploring alternative accounting software options such as Xero or upgrading to QuickBooks Pro or Enterprise solutions. However, this decision should be weighed carefully, considering factors such as:

  • The learning curve associated with new software
  • Pricing plans and monthly subscription costs
  • Scalability and long-term business needs
  • Availability of customer support and resources

Overcoming QuickBooks Accounting Limitations: The Path Forward

While QuickBooks Online offers many benefits for small businesses, its reporting limitations can hinder growth and efficiency for some users. By understanding these challenges and exploring solutions like cloud-based integrations, businesses can significantly enhance their reporting capabilities. 

To overcome these limitations and streamline your business accounting process, consider getting started with Coefficient. With Coefficient’s powerful integration and reporting tools, you can unlock the full potential of your QuickBooks Online data and gain deeper insights into your business performance.

Top 8 QuickBooks Online Reports in 2024

Looking for the most useful QuickBooks Online reports? This guide showcases seven essential dashboards that provide clear insights into your financial data, helping you make informed decisions and drive business growth in 2024.

#1 Cash Runway Template

The Cash Runway Template helps you forecast how long your current cash reserves will sustain your business operations. This tool is crucial for startups and growing businesses to manage their burn rate and plan for future funding needs.

Use Case: Cash Flow Management and Forecasting

  • Burn Rate Analysis: Calculate your monthly cash burn to understand your financial sustainability.
  • Funding Planning: Determine when you’ll need to secure additional funding or reach profitability.
  • Scenario Planning: Create multiple scenarios to prepare for different financial outcomes.

Metrics Tracked

  • Gross profit (cash)
  • Open invoices by customer
  • Open invoices amount by customer
  • Overdue invoices by customer
  • Overdue invoices amount by customer
  • Total expenses (cash) by category
  • Paid invoices amount
  • Paid invoices
  • Income (cash) by category

Get the QuickBooks Cash Flow Projections Template

#2 Quickbooks Profit and Loss Dashboard

The QuickBooks Profit and Loss Template provides a comprehensive view of your company’s financial performance. It consolidates key financial data from your QuickBooks account into an easy-to-read format, allowing you to quickly assess your business’s profitability and identify areas for improvement.

Use Case: Financial Performance Analysis

  • Revenue Tracking: Monitor your income streams and identify trends over time.
  • Expense Management: Analyze your costs and pinpoint areas for potential savings.
  • Profitability Assessment: Quickly determine your bottom line and track progress towards financial goals.

Metrics Tracked

  • Total revenue
  • Cost of goods sold (COGS)
  • Gross profit
  • Total operating expenses
  • Net operating income
  • Net other income
  • Net income

Access the QuickBooks Profit and Loss Dashboard

#3 SaaS P&L Template

The SaaS P&L Template is specifically designed for Software as a Service businesses. It provides a detailed breakdown of revenue and expenses unique to the SaaS model, helping you understand your company’s financial health in the context of subscription-based services.

Use Case: SaaS Financial Analysis

  • Subscription Revenue Tracking: Monitor MRR, ARR, and other SaaS-specific revenue metrics.
  • Customer Acquisition Cost (CAC) Analysis: Understand the cost of acquiring new customers.
  • Churn and Retention Insights: Track customer churn rates and their impact on revenue.

Metrics Tracked

  • Monthly Recurring Revenue (MRR)
  • Annual Recurring Revenue (ARR)
  • Customer Acquisition Cost (CAC)
  • Customer Lifetime Value (CLV)
  • Churn Rate
  • Net Revenue Retention

Get the SaaS P&L Template here

#4 QuickBooks Accounts Payable Template

The QBO Accounts Payable Dashboard provides a comprehensive view of your outstanding bills and payment obligations. It helps you manage vendor relationships and optimize your cash flow by tracking when payments are due.

Use Case: Vendor Payment Management

  • Payment Scheduling: Visualize upcoming payment due dates to plan cash outflows.
  • Vendor Analysis: Identify top vendors by spend and negotiate better terms.
  • Cash Flow Optimization: Manage payment timing to balance cash reserves and vendor relationships.

Metrics Tracked

  • Total accounts payable
  • Aging of payables
  • Upcoming payment due dates
  • Vendor-wise outstanding amounts
  • Historical payment trends

Download the QuickBooks AP dashboard here

#5 QuickBooks Accounts Receivable Dashboard

The QuickBooks Accounts Receivable Dashboard helps you track and manage customer payments. It provides a clear view of outstanding invoices, categorized by age, helping you identify late payments and take proactive measures to improve cash flow.

Use Case: Customer Payment Tracking

This dashboard helps you maintain healthy cash flow by monitoring customer payments:

  • Track outstanding invoices and identify late-paying customers
  • Anticipate incoming payments to better manage your business’s financial needs
  • Identify patterns in customer payment behavior to inform credit decisions and collection strategies

Metrics Tracked

  • Total accounts receivable
  • Aging of receivables
  • Customer-wise outstanding amounts
  • Average days to pay
  • Collection effectiveness ratio

Get Started with the QuickBooks Accounts Receivable Dashboard

#6 QuickBooks Inventory Management Dashboard

The QuickBooks Inventory Management Dashboard is essential for businesses that deal with physical products. It provides real-time insights into your inventory levels, helping you optimize stock levels, reduce carrying costs, and prevent stockouts.

Use Case: Inventory Optimization

This dashboard helps businesses track and optimize their stock levels:

  • Keep track of current inventory levels across all products
  • Set up notifications for when stock reaches reorder points
  • Analyze sales patterns to inform purchasing decisions

Metrics Tracked

  • Current stock levels
  • Reorder points
  • Stock turnover rate
  • Days of inventory on hand
  • Top selling products

Optimize Your Inventory with the QuickBooks Inventory Management Dashboard

#7 QuickBooks Online Revenue Dashboard

The QBO Revenue Dashboard provides a comprehensive view of your company’s income streams. It helps you track and analyze various revenue sources, identifying trends and opportunities for growth.

Use Case: Revenue Analysis and Forecasting

  • Revenue Stream Analysis: Break down revenue by product, service, or customer segment.
  • Trend Identification: Spot seasonal patterns or growth trends in your revenue data.
  • Performance Tracking: Compare current revenue against targets or previous periods.

Metrics Tracked

  • Total revenue
  • Revenue by product/service
  • Revenue by customer segment
  • Month-over-month and year-over-year growth rates
  • Average transaction value

Track your revenue with this free template

#8 – QuickBooks Cashflow Template

The QuickBooks Cashflow Template tracks the movement of cash in and out of your business. It categorizes cash flows into operating, investing, and financing activities, providing a clear picture of your company’s liquidity and financial health.

Use Case: Cash Flow Management

  • Liquidity Analysis: Understand your business’s ability to meet short-term obligations.
  • Investment Decision Making: Evaluate the impact of potential investments on your cash position.
  • Financial Planning: Use cash flow trends to inform budgeting and financial strategy.

Metrics Tracked

  • Net cash flow from operating activities
  • Net cash flow from investing activities
  • Net cash flow from financing activities
  • Free cash flow
  • Cash conversion cycle

Get a copy of our cashflow template here.

Free QuickBooks Online Reports

These seven QuickBooks Online reports offer valuable insights into various aspects of your business’s financial health, from cash flow projections to inventory management and financial ratio analysis. By using these dashboards, you’ll be better equipped to make data-driven decisions and keep your business on the path to financial success in 2024 and beyond. Start using these QuickBooks Online reports today to transform your financial reporting and decision-making processes.

Explore All QuickBooks Connector Dashboards

Additional Resources:

QuickBooks Consolidated Financial Statements: A Comprehensive Guide

Looking for a way to consolidate financial statements in QuickBooks?

Unfortunately, QuickBooks doesn’t offer a native solution. But that doesn’t mean you’re out of options.

Many businesses face this challenge, and several effective workarounds and third-party solutions bridge this gap. Let’s explore each in detail.

Multi-Entity Financial Reporting: Challenges and Workarounds

Consolidated financial statements combine data from multiple related companies into one comprehensive report, treating a parent company and its subsidiaries as a single economic entity.

However, since QuickBooks lacks this capability, it recommends workarounds that introduce several challenges:

  • Time-consuming manual data aggregation
  • Increased risk of errors in consolidation
  • Difficulty eliminating inter-company transactions
  • Complications with multi-currency conversions

Using Coefficient for QuickBooks Consolidated Financial Statements

a screenshot of coefficient's homescreen menu

Coefficient syncs live data from various business systems, like QuickBooks, directly into Excel and Google Sheets.

For QuickBooks users, this means you can build real-time financial reports, automate data updates, and streamline your accounting workflows without leaving your familiar spreadsheet environment.

Pros and Cons of Coefficeint

  • Cons:
    • Some advanced features, such as scheduled automations, are only available on paid plans. However, Coefficient’s pricing is still very competitive compared to other solutions.

Creating Consolidated Reports with Coefficient: A Step-by-Step Guide

Step 1. Install Coefficient

For Google Sheets

  • Open a new or existing Google Sheet, navigate to the Extensions tab, and select Add-ons > Get add-ons.
  • In the Google Workspace Marketplace, search for “Coefficient.”
  • Follow the prompts to grant necessary permissions.
  • Launch Coefficient from Extensions > Coefficient > Launch.
  • Coefficient will open on the right-hand side of your spreadsheet.
Opening coefficient from the side menu google sheets

For Microsoft Excel

  • Open Excel from your desktop or in Office Online. Click ‘File’ > ‘Get Add-ins’ > ‘More Add-Ins.’
  • Type “Coefficient” in the search bar and click ‘Add.’
  • Follow the prompts in the pop-up to complete the installation.
  • Once finished, you will see a “Coefficient” tab in the top navigation bar. Click ‘Open Sidebar’ to launch Coefficient.
Opening coefficient from the side menu excel

Step 2. Connect to QuickBooks

Click “Import from…” on the sidebar. Select QuickBooks from the list of data sources.

Selecting QuickBooks import

Follow the prompts to authorize Coefficient to your Intuit QuickBooks account.

Authorizing Coefficient to QuickBooks

Step 3. Import and Consolidate Your Data

After connecting, return to QuickBooks from the menu. Select your report from the available options:

  • Transaction list by customer
  • Transaction list by vendor
  • Transaction list by date
  • Balance sheet
  • Cash Flow
  • Profit and Loss.
choosing from available reports

Adjust your filters as needed. Choose your date range. Decide which companies to include.

Adjusting filters for import

Choose the fields you want to include (or exclude), name your import, and click the button to push your data to your spreadsheet.

Choosing fields for import

Continue this process for every report you want to consolidate. Never worry about copy-paste errors again!

Using Third Party Integrations

While QuickBooks doesn’t offer native multi-entity reporting capabilities, there are several integrations available in its marketplace to help facilitate consolidation.

We’ll examine two popular options shortly, but first, here’s how you can access them (or others).

  1. Go to the Apps menu and then click Find Apps.
  2. In the Search field, you can type consolidate or other keywords.
  3. Select the app you want to integrate
    accessing quickbooks app store
  4. Click Get App Now and complete the on-screen instruction

JustConsolidate

JustConsolidate homepage

JustConsolidate is a financial data consolidation solution tailored for businesses utilizing multiple QuickBooks files. It offers features including automated data synchronization, configurable consolidation parameters, and comprehensive financial reporting capabilities.

Key Features:

  1. QuickBooks Integration: Seamless data import from multiple QuickBooks files
  2. Customizable Consolidation: Adjustable settings for currency conversion and intercompany eliminations
  3. User-Friendly Interface: Intuitive design for efficient navigation and operation

Limitations:

  1. Limited Analytics: Lacks advanced financial analysis tools
  2. Basic Reporting: Offers standard financial reports with limited customization
  3. Scalability Constraints: May encounter performance issues with large-scale consolidations or complex corporate structures

Consolidation Process with JustConsolidate

Step 1. Account Setup and QuickBooks Connection

  • Register on the JustConsolidate platform
  • Access the main dashboard
  • Link QuickBooks files via the ‘Add New File’ function

Step 2. Consolidation Parameter Configuration

  • Navigate to ‘Consolidation Settings’
  • Select target QuickBooks files for consolidation
  • Set consolidation parameters (e.g., FX rates, intercompany transaction handling)

Step 3. Financial Statement Generation

  • Access the ‘Reports’ module
  • Choose ‘Consolidated Financial Statements’
  • Specify reporting period and relevant filters
  • Execute report generation

Step 4. Report Review and Export

  • Scrutinize the consolidated statements for accuracy
  • Export in desired format (e.g., PDF, Excel) for stakeholder distribution or further analysis

Qvinci

Qvinci homepage

Qvinci is a comprehensive financial reporting platform that integrates with QuickBooks to deliver real-time consolidated financial statements. It specializes in multi-entity reporting, automated data updates, and customizable financial dashboards.

Key Features:

  1. Advanced Financial Analytics: In-depth financial analysis tools and customizable KPI dashboards
  2. Real-Time Data Synchronization: Ensures up-to-date financial reporting across multiple entities
  3. Comprehensive Reporting Suite: Extensive range of customizable financial reports

Limitations:

  1. Complex User Interface: Steeper learning curve due to advanced features
  2. Higher Price Point: Premium pricing reflecting the extensive feature set
  3. Time-Intensive Setup: Initial configuration process can be complex and time-consuming

Consolidation Process with Qvinci:

Step 1. Account Setup and QuickBooks Integration

  • Create a Qvinci account
  • Access the main dashboard
  • Connect QuickBooks files through the ‘Add New File’ function

Step 2. Entity Structure Configuration

  • Access ‘Entity Management’
  • Create logical groupings for consolidation entities
  • Assign QuickBooks files to appropriate entity groups

Step 3. Consolidation Rule Definition

  • Navigate to ‘Consolidation Settings’
  • Establish rules for intercompany transactions and currency adjustments
  • Configure additional consolidation parameters as needed

Step 4. Report Generation and Customization

  • Access the ‘Reports’ module
  • Select ‘Consolidated Financial Statements’
  • Define reporting period, entity selection, and other relevant parameters
  • Execute report generation

Step 5. Report Validation and Export

  • Conduct a thorough review of the consolidated statements
  • Export in preferred format (e.g., PDF, Excel) for distribution or further analysis

Choosing the Right Consolidation Solution for Your Business

Consolidated financial statements in QuickBooks don’t have to be a headache. Yes, native QuickBooks tools have limitations. Third-party apps offer some relief. But for a comprehensive solution? Coefficient takes the cake.

It integrates seamlessly with QuickBooks. It automates data refresh. It offers powerful customization options. In short, it addresses the unique challenges of financial consolidation head-on.

With Coefficient, you’re not just saving time. You’re enhancing decision-making. You’re getting a clear, real-time view of your organization’s financial health. It’s like having a financial crystal ball.

Ready to revolutionize your QuickBooks consolidated financial statements? It’s time to take action. Get started with Coefficient today. Experience the power of automated, accurate financial consolidation. Your future self will thank you.

Top 5 QuickBooks Reporting Tools in 2024 [with Feature Comparison]

QuickBooks is a powerhouse for small business accounting. But when it comes to reporting? It’s like trying to paint a masterpiece with crayons. You can do it, but it’s not ideal. 

That’s where specialized reporting tools come in. They transform your QuickBooks data into actionable insights. Let’s dive into the top 5 options for 2024.

QuickBooks Reporting Tools Feature Comparison Table

FeatureCoefficientQuickBooks Advanced ReportingFathomReach ReportingSpotlight Reporting
Row Limits / Export LimitsUp to 5,000 rows for free and starter plans. Unlimited for Pro and Enterprise.Unlimited within QuickBooks dataUnlimitedUnlimitedUnlimited
Data Sources50+ business systemsQuickBooks dataQuickBooks, Xero, MYOB, and 5000+ via ZapierQuickBooks, Xero, ExcelXero, MYOB, QuickBooks, and 30+ other sources
Builder License CostFree tier available. Paid starts at $49/monthIncluded with QuickBooks Online Advanced ($200/month)Starts at $55/month for Lite planStarts at $55/monthStarts at $329/month for Small plan
Viewer License CostIncludedIncluded in main licenseIncluded in main license (up to 3 users in standard plans)Additional users from $15/month$50/month per additional user
AI FunctionalityAI-powered tools for connecting data, building reports, and analysisBasic AI-driven insightsAI-powered insights and suggestionsLimited AI featuresAI-assisted reporting and forecasting
Refresh FrequencyReal-timeReal-time within QuickBooksDailyDailyDaily (hourly available on higher plans)
AlertsYes, via Slack and emailBasic alerts within QuickBooksCustomizable alerts via email and in-appBasic email alertsCustomizable alerts via email and in-app
SecurityEnterprise-grade security and access controls, likely SOC 2 compliantQuickBooks security standards, likely SOC 2 compliantSOC 2 compliant, role-based access controlRole-based access control, data encryptionSOC 2 compliant, role-based access control

1. Coefficient: Real-time Reporting and Automation

  

Coefficient is ideal for finance teams and analysts who are comfortable with spreadsheets and need to combine QuickBooks data with information from other systems. It’s particularly useful for businesses that rely heavily on Excel or Google Sheets for financial reporting and analysis.

Key Features

  • Real-time data synchronization from QuickBooks and 50+ other sources
  • Automated report refreshing and distribution
  • Advanced data blending and manipulation capabilities
  • Two-way sync allowing data push-back to QuickBooks

Pros

Cons

  • Requires proficiency in spreadsheet use for advanced features
  • Initial setup time can be significant for complex reports
  • May require data cleansing for optimal performance

Pricing

  • Free Plan: Includes data imports for up to 5,000 rows and 10,000 OpenAI API calls.
  • Starter Plan: $49 per user per month.
  • Pro Plan: $99 per user per month.
  • Enterprise Plan: Custom pricing based on specific needs.

What Users Are Saying

I used to spend an hour updating sheets so that others had access to real time data and with Coefficient it does it all on it’s own even several times a day if I need. Saves me so much time to focus on real issues instead of manually updating sheets.

Makes it incredibly easy to share data across the org and since the query is visible it is always clear what the source of truth is. It limits breakage and enables fast automation of regular analyses.

Support and Training

  • Email support and chat for all users
  • Knowledge base with comprehensive documentation and tutorials 
  • Dedicated account managers, Slack for enterprise clients

2. QuickBooks Advanced Reporting for Enterprise Plans

QuickBooks Advanced Reporting (QBAR) is the built-in advanced reporting solution for QuickBooks Enterprise users.

QBAR is designed for QuickBooks Enterprise users who need more advanced reporting capabilities than what’s offered in standard QuickBooks reports. It’s particularly useful for businesses with multiple entities or those requiring highly customized financial reports.

Key Features

  • Customizable report templates
  • Multi-company consolidation
  • Advanced filtering and sorting options
  • Direct access to QuickBooks data tables

Pros

  • Seamless integration with QuickBooks Enterprise
  • No need for data export or third-party tools
  • Familiar interface for QuickBooks users
  • Robust security and data access controls

Cons

  • Limited to QuickBooks Enterprise users
  • Less flexible than some third-party solutions
  • May require SQL knowledge for advanced customization
  • Learning curve can be steep for complex report creation

Pricing

  • Silver Plan: $156 per month for cloud access; $114 per month for local only.
  • Gold Plan: $185 per month for cloud access; $155 per month for local only.
  • Platinum Plan: $215 per month for cloud access; $185 per month for local only.
  • Diamond Plan: $368 per month for cloud access; $311 per month for local only.

What Users Are Saying

“QuickBooks Online Advanced has been a great addition to our workplace. I am the main user and I like the ease of reports and other functions.”  

“As I mentioned, I think the software is not always intuitive, so it can be frustrating for less experienced users.”

Support and Training

  • Access to standard QuickBooks support channels
  • Online resources and community forums
  • Optional paid training and consultation services

3. Fathom: Visual Financial Analysis and Reporting

Fathom is a cloud-based financial analysis and reporting tool that integrates with QuickBooks to provide enhanced visualization and KPI tracking capabilities.

Fathom is excellent for businesses that need to present financial data in a visually appealing, easy-to-understand format. It’s particularly useful for companies that want to track both financial and non-financial KPIs and need robust forecasting capabilities.

Key Features

  • Visual dashboards and performance reports
  • Benchmarking and goal-setting tools
  • Cash flow forecasting
  • Three-way financial forecasting
  • Custom KPI tracking

Pros

  • User-friendly interface with drag-and-drop report building
  • Strong focus on visual presentation of data
  • Includes non-financial KPI tracking
  • Powerful benchmarking and forecasting tools

Cons

  • Limited customization compared to spreadsheet-based solutions
  • May be overkill for businesses with simple reporting needs
  • Pricing can be high for smaller businesses

Pricing

  • Starts at $44 per month, with various plans available depending on features and company size.

What Users Are Saying

“Fathom has allowed me to provide so much more value to my clients. I am able to generate reports so much faster, and present them in a way that is easy for my clients to understand. This allows me to spend more time actually consulting with my clients, rather than spending hours putting together reports.”

“Some of the features are not as intuitive as I would like, and it takes some time to figure out how to use them. Additionally, the pricing can be a bit high for smaller businesses.” Source: Capterra

Support and Training

  • Email support and comprehensive knowledge base
  • Video tutorials and regular webinars
  • Phone support for higher-tier plans
  • Optional paid training sessions

4. Reach Reporting: Automated Financial Report Generation

Reach Reporting is a financial reporting and analytics platform that offers seamless integration with QuickBooks and focuses on automated, presentation-ready reports.

Reach Reporting is ideal for businesses that need to regularly produce professional-looking financial reports for stakeholders, boards, or investors. It’s particularly useful for companies that want to automate their reporting process and need a tool that can generate narrative insights.

Key Features

  • Automated report generation
  • Custom branding options
  • Budgeting and forecasting tools
  • Board and investor reporting templates
  • Narrative insights feature

Pros

  • Saves time with automated report generation
  • Produces professional, presentation-ready reports
  • Offers tools for financial planning and analysis
  • Narrative insights feature adds context to numbers

Cons

  • May have more features than needed for small businesses
  • Some users report a steeper learning curve
  • Less flexible for highly customized reports compared to spreadsheet solutions

Pricing

Reach Reporting offers tiered pricing starting at $55/month for small businesses, with custom enterprise plans available.

What Users Are Saying

“I used this tool for the first time for this month’s reporting. It was easy to use, analyzed the year-to-date reporting thoroughly, and saved me tons of time. My experience with Reach has been very pleasant; their customer service is fast and very helpful.”

Support and Training

  • Email support and knowledge base
  • Onboarding assistance for new users
  • Regular training webinars
  • Dedicated account managers for enterprise plans

5. Spotlight Reporting: Comprehensive Tool for Accounting Firms

Spotlight Reporting is a cloud-based reporting and forecasting tool designed for accountants and financial professionals using QuickBooks.Spotlight Reporting is primarily designed for accounting firms and financial advisors who work with multiple clients.

Key Features

  • Multi-entity consolidation
  • Scenario planning and forecasting
  • Industry benchmarking
  • Custom KPI tracking
  • White-labeling options for accounting firms

Pros

  • Robust forecasting and scenario planning tools
  • Strong focus on advisory services for accountants
  • Comprehensive consolidation features for multi-entity businesses
  • White-labeling options for customized client reporting

Cons

  • Primarily designed for accounting firms rather than end-users
  • Can be complex for non-financial users
  • Pricing may be high for smaller accounting practices

Pricing

Spotlight Reporting’s pricing is quote-based, depending on the number of clients and required features.

What Users Are Saying

“The software is quite complex and can be overwhelming for new users. It takes some time to learn how to use all the features and create custom reports. Additionally, the pricing can be expensive for small businesses.”

  • Source: G2 

Spotlight Reporting is easy to use and has helped us to provide our clients with valuable insights into their businesses. The reports are visually appealing and easy to understand, and the forecasting feature is invaluable for helping our clients plan for the future.”

  • Source: G2 

Support and Training

  • Email and phone support
  • Extensive knowledge base and tutorial videos
  • Regular training webinars
  • Dedicated account managers for larger firms

Elevate Your QuickBooks Reporting with the Right Tools

Reporting tools can greatly expand QuickBooks Online’s analytical capabilities. Coefficient’s broad integration options and real-time data syncing offer versatile reporting for QBO users. When choosing a tool, focus on your reporting priorities, required data sources, and cost considerations. 

Free trials are often available, providing hands-on experience with different options. An effective reporting tool turns QuickBooks data into actionable insights, driving informed business decisions.

Ready to transform your QuickBooks reporting? Get started with Coefficient today and experience the power of automated, real-time financial insights.