How to compare financial results across periods

Finance staff use Comparative Reports when they need to examine changes in balances or performance across fiscal periods. Check that the periods are complete enough for a fair comparison. A variance points to a question. It does not establish the cause.

Before you start

Select the correct entity and open Reports > Comparative Financial. You need Reports access to open the page. To see the Comparative Financial menu item, you also need Financial Reports.

Run the comparison

1. Choose the report type, First Period, and Second Period. Use comparable period types and put the earlier period first. Select Report on All Periods Between First and Second Period if you need the intervening trend. Set available dimensions consistently.
2. Select Display Report Series. Check the heading, currency, periods, and columns. Select Trial Balance, the first choice, for a trial balance by period. Or select a financial report to compare that report.
3. Compare significant accounts and totals. Open supporting transaction detail or the corresponding period report for any figure that needs explanation.
4. Ask the record owner whether a late posting, reclassification, exchange-rate entry, or operational event explains the variance. Keep a verified cause with the close review.
5. After a correction made through the normal finance process, run the comparison again. Check the resulting periods and note whether they remain open or may contain later adjustments before presenting the result as final.

If you don't see what you expect

• Menu item missing: Check Financial Reports access. The menu is hidden for entities using QuickBooks.
• Period missing: Check the entity's fiscal-period setup. The choices are limited to the last five years by default.
• Report missing from the list: Ask an administrator whether that financial report exists for your company.