← Back to the blog
Budget vs Actual

Which QuickBooks Online Reporting Tool Is Right for You? A 5-Question Guide

There are a lot of ways to report on QuickBooks Online, and most "best tools" lists are written by one of the tools. Answer five yes/no questions and we'll point you to the right kind of tool. We make DrillFi, so we'll tell you plainly when it isn't the answer.

Short answer. It depends on five things, and the right answer is often QuickBooks' own reports. Use built-in Budget vs Actuals if your budget is simple: one budget, one account per line, one period at a time. Choose a forecasting suite for driver-based models or board packs, a consolidation tool for many entities, a spreadsheet-connected tool if you build in Excel or Google Sheets, and DrillFi if your budget lines roll up many accounts and you want to drill to the invoice with automated error checks. Try it in the live demo or get a $100 Financial Check Up.

This guide needs JavaScript to run. The same questions and answers are listed as text further down the page.

The whole map in one picture

Start at the top and follow Yes to the right or No downward. It's the same logic as the quiz above.

Decision flowchart: five yes/no questions that lead to a QuickBooks Online reporting approach. The same content is listed as text below. Is your budget simple: one budget, each lineis one QuickBooks account, one period at atime? Yes QuickBooks built-in reports Probably enough. Start here. No Is your main goal forecasting or polishedboard-ready report packs? Yes A reporting and forecasting app Reporting and forecasting suites No Do you need consolidated statements acrossmany entities? Yes Consolidation-focused tools Several reporting appslist it No Do you want to build reports in Excel orGoogle Sheets with QuickBooks data flowingin? Yes Spreadsheet-connected tools Spreadsheet Sync or anotherspreadsheet-connected app No Do your budget lines roll up many accounts,and do you want to drill from any varianceto the invoice, with automated error checks? Yes DrillFi Reporting and audit layer onQuickBooks Online No Not sure yet? Start with the built-inreports and revisit when a specific painshows up.

The same map, as text

  1. Is your budget simple: one budget, each line is one QuickBooks account, one period at a time?
    Yes: QuickBooks' built-in Budget vs Actuals is probably enough.
    No: Go to question 2.
  2. Is your main goal forecasting or polished board-ready report packs?
    Yes: A management reporting and forecasting tool For long-range driver-based models, an FP&A modeling platform.
    No: Go to question 3.
  3. Do you need consolidated statements across many entities?
    Yes: A consolidation-focused tool (several apps list multi-entity consolidation among their features).
    No: Go to question 4.
  4. Do you want to build reports in Excel or Google Sheets with QuickBooks data flowing in?
    Yes: A spreadsheet-connected tool (Intuit's Spreadsheet Sync on Advanced plans, or a spreadsheet-connected app).
    No: Go to question 5.
  5. Do your budget lines roll up many accounts, and do you want to drill from any variance to the invoice, with automated error checks?
    Yes: DrillFi.
    No: Start with the built-in reports and revisit when a specific pain shows up.

Five questions to ask in any trial

Whichever tool you try, these separate the ones that will survive your real budget from the ones that only work on the demo company.

  1. Can I upload the budget I already have, in the fiscal year I need, without reshaping it first?
  2. Can several accounts roll up into one budget line, so your budget can be organized the way you think about the business, not the way your chart of accounts is?
  3. What happens when someone adds a new account in QuickBooks? Does the comparison break, or does the new account show up as unmapped?
  4. Can I click from a variance to the vendor and the invoice, without leaving the tool or re-running a report?
  5. Does it tell me when the books are wrong, or does it assume the data is clean?
A note on sources. Competitor details here come from the vendors' own public pages and from independent comparison sites, and tools change quickly. Check current features and pricing on each vendor's site before you decide. If we've described a tool inaccurately, tell us and we'll fix it.

Frequently asked questions

What is the best reporting tool for QuickBooks Online?

There isn't one best tool, and most "best tools" lists are written by one of the tools. The right choice depends on how complex your budget is, whether you need forecasting or polished report packs, how many entities you have, whether you work in spreadsheets, and whether you need to drill to transactions.

Are QuickBooks' built-in reports enough?

Often yes. If your budget is simple, with one budget, each line one QuickBooks account and one period at a time, the built-in Budget vs Actuals is probably enough. Start there and revisit when a specific pain shows up.

What should I ask when trialing a reporting tool?

Can I upload the budget I already have without reshaping it? Can several accounts roll up into one budget line? What happens when someone adds a new account in QuickBooks? Can I click from a variance to the vendor and invoice? Does it tell me when the books are wrong?

When is DrillFi not the right answer?

If your main goal is long-range forecasting or polished board packs, a reporting and forecasting or FP&A modeling tool fits better. If you need consolidated statements across many entities, look at consolidation-focused tools. If you want to build in spreadsheets, consider Spreadsheet Sync or a spreadsheet-connected app.

Related

Keep reading

See whether DrillFi fits your budget.

The live demo runs on a sample company, so you can click from a variance down to the invoice and see the automated checks without connecting your own data.

Try the live demoor get a $100 Financial Check Up

QuickBooks menus, report behavior and plan features change over time, and this guide describes them as of its publish date. DrillFi is not affiliated with or endorsed by Intuit.