{"id":311,"date":"2020-12-21T17:36:49","date_gmt":"2020-12-22T00:36:49","guid":{"rendered":"https:\/\/goodreports.ca\/?p=311"},"modified":"2021-01-31T00:06:14","modified_gmt":"2021-01-31T07:06:14","slug":"customized-profit-loss-report","status":"publish","type":"post","link":"https:\/\/goodreports.ca\/case-studies\/customized-profit-loss-report\/","title":{"rendered":"Customized Profit & Loss Report for a Major Furniture Manufacturer"},"content":{"rendered":"\t\t
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Home<\/a> >> Case Studies<\/a><\/strong><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\tCustomized Profit & Loss Report for a Major Furniture Manufacturer\t\t\t\t\t<\/h1>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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Case
Study<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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The Problem<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Hospitality Designs (HD) uses a dashboard for monthly executive reviews, but updates were too labour intensive and prone to errors. The chart of accounts and dashboard designs change during they year to adapt to strategic updates, and HD wanted a solution to adapt to these situations.<\/p>\n

QuickBooks could not export data into a format that’s easily organized into their evolving dashboard. Each strategic update meant manually updating the original dashboard, finding and updating multiple static formulas, a process that took several hours to a whole day.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The Business<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\tHospitality Designs, a furniture manufacturer for major North American hotel chains.\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Solution<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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GoodReports created a direct link to QuickBooks from Excel using a QODBC database connection.\u00a0<\/p>\n

Dynamic formulas and triggers were added to the Profit & Loss report, and a custom macro button macro allowed one-click processing. A custom table to map cost codes with departments eliminated roughly 90% of the previous manual work and allowed HD to report on criteria previously unavailable to them.\u00a0<\/p>\n

Hospitality Designs was able to produce a dashboard in minutes rather than hours, and made previously buried data visible for the CFO to analyze.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Manually arranging data from QuickBooks into specific statements for our company took me 3 hours a week. Chad & Victor automated my report template and I can now pull the data in minutes!

The best part is I can customize this report myself because of some new dynamic features. GoodReports saved me a lot of time and I recommend them!<\/div>\n\t\t\t\n\t\t\t\t\t\t
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J.T. Hong<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t
CFO, Hospitality Designs<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The company was using a dashboard for monthly executive reviews, but updates were too labour intensive and prone to errors. <\/p>\n

The chart of accounts and dashboard designs change during they year to adapt to strategic updates, and they wanted a solution to adapt to these situations…<\/p>\n

QuickBooks could not export data into a format that\u2019s easily organized into their evolving dashboard. Each strategic update meant manually updating the original dashboard, finding and updating multiple static formulas, a process that took several hours to a whole day.<\/p>\n","protected":false},"author":1,"featured_media":206,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"\nCustomized Profit & Loss Report for a Major Furniture Manufacturer | QuickBooks Custom Reporting | GoodReports<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goodreports.ca\/case-studies\/customized-profit-loss-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Customized Profit & Loss Report for a Major Furniture Manufacturer | QuickBooks Custom Reporting | GoodReports\" \/>\n<meta property=\"og:description\" content=\"The company was using a dashboard for monthly executive reviews, but updates were too labour intensive and prone to errors. 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