David H. Ringstrom, CPA, heads up Accounting Advisors, Inc., an Atlanta-based software and database consulting firm providing training and consulting services nationwide. Contact David at firstname.lastname@example.org or follow him on Twitter. David speaks at conferences about Microsoft Excel and presents webcasts for several CPE providers, including AccountingWEB partner CPE Link.
QuickBooks Statement Writer vs. Excel FSM
by David Ringstrom,CPA
Creating financial statements from QuickBooks data can be a tricky endeavor. Yes, it’s easy enough to chooseReports, Company and Financial, and then Profit & Loss—as long as you don’t mind account numbers embedded into your P&L report. QuickBooks Premier Accountant Edition and Enterprise Solutions users have a built–in tool known as QuickBooks Statement Writer that allows deep integration between Excel and QuickBooks, as well as Microsoft Word. A third-party application called Excel FSM offers functionality similar to the QuickBooks Statement Writer to users of all versions of QuickBooks, both Desktop and Online. A fourth option is to roll your own financial statements in Excel without the benefit of any add-ons. In this article I’ll provide an overview of the pros and cons of each of these approaches.
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