Question

What different graphs are available in QuickBooks Accountant? After discussing the different graphs available, choose two graphs to provide in-depth information on their contents? Why are graphs useful in the accounting field and also when making financial decisions?

Answer 1

The different graphs available in QuickBooks Accountant are:

1. Accounts Receivable Graph

2. Accounts Payable Graph

3. Sales Graph

4. Income & Expense Graph

5. Networth Graph

6. Budget and Actual Graph

Detailed explanation of Sales graph and Income & Expense Trends:

By Sales bar graph, you can compare the year on year, monthlly, quarterly or any time period sales of the company. Also you can select product wise bifurcation, which and what is the best selling items. So it is better to decide or taking any financial decision.

By Income & Expense trends graph, you can select what is the cost or expense for the generated income. Previuos year expense comparison. Best selling products and how can you minimize the cost to it.

Why are graphs useful in the accounting field and also when making financial decisions?

Ans: Financial decisions are mainly revolving around how to pay for investments and expenses. Company can borrow or sell assets to full fill the financial asset. From tabular form, excel and detailed financial statement, it is not that efficient. So for effective presentation and better communication through line, bar and column charts are used. The type of graph can be used for timely comparison, in % value and absolute value over time periods. So reader can interpret and read the data well.