Financial Reports

Open a report from the client sidebar. Verify the period, basis, and comparison settings before relying on the results or exporting them.

Before you begin

Confirm that the reporting period is ready:

1. Banking transactions for the period are posted, matched, transferred, or intentionally excluded.
2. Material bank and card accounts have been reconciled or their differences are documented.
3. Recurring and period-end journals are posted.
4. Fixed-asset, receivable, payable, and other subledger balances have been reviewed.
5. The period is still open if additional edits may be needed.

Set the report period

Use the period control to choose a preset or a custom date range. The selected range has different meaning by report:

• Profit & Loss, General Ledger, AJE, and Income Tax Summary show activity across a range.
• Balance Sheet can show an as of date or a range/period-column view.
• Trial Balance uses the selected report dates to calculate balances.

For Profit & Loss and Balance Sheet, choose the supported accounting basis when the client needs cash- or accrual-basis statements. Do not assume that changing the basis changes posted journals; it changes report presentation.

Compare and group

Statement controls can add comparison periods and calculations. Profit & Loss supports common comparison periods and a custom comparison range. Depending on the statement, you can also split or view columns by period or tracking dimension, show a total column, show account codes, display zero-balance lines, and change date labels.

Profit & Loss and Balance Sheet period columns can be viewed by week, month, quarter, or year. Weekly columns run Monday through Sunday; partial weeks are kept at the beginning or end of a custom date range.

Use comparison columns deliberately. Verify that every column represents the same basis and an appropriate length before interpreting a variance.

Read and drill into a statement

Expand or collapse statement sections to change the level of detail. Select an account amount to review its supporting journal lines, including dates, descriptions, payees, and debit or credit amounts.

Open the related journal or transaction to investigate and correct an amount, then refresh the report. A report reflects the current books; it is not a separate copy that can be corrected on its own.

Report-specific notes

Profit & Loss

Use it for revenue, cost of goods sold, operating expenses, other income/expense, and net income. Check sign presentation and period comparisons before sending it externally.

Balance Sheet

Use it for assets, liabilities, and equity. Verify the accounting equation, retained earnings/current-period income presentation, and the chosen as of date. A bank reconciliation can support a cash balance but does not validate every other balance-sheet account.

Trial Balance and General Ledger

Use Trial Balance for account-level debit and credit balances. Use General Ledger for entry-level detail, running balances, references, payees, memos, and split accounts. These are the fastest reports for tracing a financial-statement amount back to journal activity.

In General Ledger, use the account filter to focus the table and exports on one chart-of-accounts account. Users with journal edit access can select ledger lines and reclassify either their account or payee. Locked periods, entries managed by a connected provider, and bank, credit-card, A/R, or A/P control accounts keep their normal editing protections. Disconnecting QuickBooks releases its retained non-control journal lines for local reclassification.

AJE Report

Use the AJE report to isolate adjusting journal entries for review or export. Confirm that entries intended as AJEs are marked correctly in Journal Entries.

Cash Flow and Income Tax Summary

Cash Flow uses the indirect method: it starts with net income, adjusts for noncash items and operating balance-sheet changes, and then presents investing and financing cash activity. Wesley classifies balance-sheet accounts automatically from their chart-of-accounts type. Use the section-level override only when an account belongs in Operating, Investing, or Financing instead of its automatic section, and review reconciliation warnings before external use.

Income Tax Summary depends on the client’s return-form and tax-line configuration and can export its specialized tax output rather than a standard Excel statement.

Account-Vendor and Custom Reports

Account-Vendor groups detail by account and payee dimensions and supports an Excel detail export.

Custom Report builder

Open Reports → Custom Reports to see your saved reports. Search and select a report to edit it, choose New report, or start from the EBITDA template. Name the report directly in the editor’s top bar. Use the back arrow to return to the list; unsaved changes require confirmation before leaving.

The desktop editor uses a studio layout: creation tools on the left, a continuous report canvas in the center, and the selected block’s controls on the right. Highlights, statements, and commentary share one report heading. Select Describe a report to open a focused dialog, create or refine a draft in natural language, and apply it to the canvas. Gemini 3.8 Flash keeps unresolved account mappings visible for review.

For example: “Compare this quarter’s payroll with January–March 2024, show cash at quarter end, and calculate the payroll change percentage.”

The editor separates three choices:

• Data: Search the left-hand data library for P&L measures, nine profitability and expense ratios, the client’s individual accounts and account-type groups, Balance Sheet account balances, and seven journal aggregations. Click an item to add it to the selected table, metric block, or chart; use Add to to create another display. Equivalent metrics and sources are reused. Use Manage or a metric’s settings icon inside the same library for account mappings, source filters, comparison periods, entered targets, formulas, and references. There is no separate Data tab on the right; the inspector contains only Layout and Design. Selecting a displayed metric in the inspector opens its definition in the library. Each source can use its own dates and accounting basis.
• Layout: Edit titles, commentary, section headings, and metric names directly on the canvas; click outside the text to apply an edit, or press Escape to cancel it. Drag a block’s grip above or below another block to reorder it, or onto its left/right edge to place them side by side. Arrow keys on the grip also move blocks. Calculated amounts remain connected to their data, not editable placeholders. Switch a selected block between a table, metric cards, or a bar/line chart. Conversions that would discard metrics or mix amounts with percentages on one chart are rejected.
• Design: Drag the selected block’s right-edge handle to resize it on a 12-column grid, or use the width control and arrow keys. Adjust heading, body, and metric-value sizes in the canvas toolbar or Design panel; choose text color, bold text, alignment, and block appearance. Page orientation, accent, spacing, and number presentation apply across the report. PDF exports preserve block order, column widths, typography, and charts, continuing onto new pages as content requires. Use Start a new PDF page for an explicit break; the canvas shows a dashed separator without repeating the report heading.

Remove a value with its × on a metric card, chart legend, or table row, or use − in the data library. The right-hand Displayed metrics list follows the canvas order, supports reordering and removal, and displays the same first-column values and period. Removing the last value leaves an empty block ready for new data; empty blocks are omitted from PDF output. Removing a value from a block does not delete its reusable definition or affect calculations elsewhere. Unused metric definitions can be removed from the library’s metric settings.

Library values use the canvas’s evaluated dataset and number format. Unqueried account and journal values display Add to load value, never an assumed zero. Balance Sheet account groups add the selected accounts’ own balances and do not double-count parent rollups. They are labeled as account balances, not a replacement for statement totals that may include calculated closing adjustments. Library journal counts count lines, not transactions. Review source mappings and definitions before issuing a report.

A Journal records source supports sum, count, average, minimum, and maximum over debit, credit, or credit-minus-debit. Add conditions on account code/name, memo, payee/vendor/customer/employee, class, location, project, transaction type, or amounts. Conditions match every rule; text matching ignores case. A count counts journal lines, not invoices or transactions. Journal sources use posted journal activity and the existing cash or accrual basis calculation, including cash-basis adjustment lines when selected.

Periods can follow the reporting column, use an exact date range or as-of date, shift by any number of days/months/years, or use a relative period. Relative source periods use the reporting column’s end date as their reference. Existing period presets, including the client’s fiscal calendar, are available in the report toolbar. Comparison columns can use any named period; prior year is a convenience preset. To calculate a difference between periods, create separately dated sources and reference their metrics in a calculation or ratio.

Formulas support metric references, numbers, parentheses, addition, subtraction, multiplication, and division. Ratios display the quotient as a percentage. Calculations follow their dependencies regardless of where a metric appears in the layout. Invalid references, cycles, missing mappings, and unavailable sources are shown explicitly and prevent PDF export of affected metrics.

Account groups store a separate mapping for each client. Inserting a saved report into a Client Report creates an independent copy whose blocks and data definitions remain editable. Existing row-based reports retain their layout and formulas until Open block editor is selected.

The current data sources are financial statements, posted journal records, and attached references. AI explains requests for unsupported data instead of inventing an external connection or financial values. Reports allow up to 24 displayed periods; wide tables split into readable period groups on the canvas and continue across PDF pages with repeated metric labels.

Export one report

Use the report download controls for Excel or PDF when available. Profit & Loss and Balance Sheet can export the current collapsed/expanded view or a fully expanded version. Confirm the company name, period, basis, comparisons, and visible columns in the output.

Build a combined export package

For supported reports, add the configured report to an export package. Check the order and settings of each report, then export the group as one Excel workbook or PDF package.

Adding a report to a package does not lock or approve the accounting period. Rebuild the package after material entries change.

If a report looks wrong

• Check the period, basis, comparison, and grouping controls first.
• Drill into the affected amount and inspect its journals.
• Confirm account type, parent, and tax mappings in Chart of Accounts.
• Look for unposted Banking transactions, duplicated imports, or an omitted opening balance.
• Review closed-period dates before attempting a correction.
• Review report-specific account classifications before external use.