ValueXpress requires income and expense statements in Excel to quickly and efficiently underwrite income-producing commercial loans. We import Excel reports directly into our loan analysis software (known as loan “sizing”), which tells us — in 5 minutes — the amount of loan that can be provided! Income and expense reports that are provided in .pdf format need to be manually input into our loan sizing model. Click here for our 10.22.18 post, which describes more on this.
Many of our clients use QuickBooks or similar accounting software, but they are unaware that Income and Expense reports (and all other reports) can be exported and saved as an Excel file. That file can be emailed to ValueXpress for importing into our loan sizing software programs.
Below are instructions for exporting a “Trailing 12 Months” Income and Expense statement in a format that provides monthly data with an annual total, which is perfect for our underwriting needs. Please perform this exercise for all ValueXpress Income and Expense Statement from QuickBooks accounting software. Click here to download these instructions.
ALL VERSIONS OF QUICKBOOKS:
- Log onto your computer. OPEN EXCEL. OPEN QUICKBOOKS.
- FOR TRAILING 12 MONTHS: LET’S ASSUME THAT THE ACCOUNTING IS COMPLETED IN QUICKBOOKS through MARCH 31, 2019. THAT MEANS THE MOST RECENT TRAILING 12 MONTHS IS APRIL 1, 2018 THROUGH MARCH 31, 2019.
THE QUICKBOOKS COMMANDS ARE AS FOLLOWS:
- GO TO REPORTS;
- CLICK ON “COMPANY AND FINANCIAL”;
- CLICK ON “PROFIT AND LOSS STANDARD”;
- ENTER INTO “FROM” BOX: 04/01/18;
- ENTER INTO “TO” BOX: 03/31/19;
- ENTER INTO COLUMNS: MONTH;
- CLICK “REFRESH” AND THE REPORT WILL DISPLAY.
TO EXPORT THE REPORT INTO EXCEL FOR VALUEXPRESS:
- IN QUICKBOOKS, WITH THE REPORT DISPLAYING, CLICK ON EXCEL;
- CLICK “CREATE NEW WORKSHEET;
- CLICK “CREATE NEW WORKSHEET IN NEW WORKBOOK;
- CLICK “EXPORT.”
THE REPORT WILL EXPORT TO EXCEL. SAVE THE FILE AND EMAIL IT TO VALUEXPRESS.
FOR 2018:
GO TO REPORTS, then
- CLICK “COMPANY AND FINANCIAL”;
- CLICK “PROFIT AND LOSS STANDARD”;
- ENTER INTO “FROM” BOX: 01/01/18;
- ENTER INTO “TO” BOX: 12/31/18;
- ENTER INTO COLUMNS: MONTH;
- CLICK “REFRESH” AND THE REPORT WILL DISPLAY.
- EXPORT TO EXCEL FOLLOWING INSTRUCTIONS ABOVE.
FOR 2017:
GO TO REPORTS, then
- CLICK ON “COMPANY AND FINANCIAL”;
- CLICK ON “PROFIT AND LOSS STANDARD”;
- ENTER INTO “FROM” BOX: 01/01/17;
- ENTER INTO “TO” BOX: 12/31/17;
- ENTER INTO COLUMNS: MONTH;
- CLICK ON “REFRESH” AND THE REPORT WILL DISPLAY.
- EXPORT TO EXCEL FOLLOWING INSTRUCTIONS ABOVE.
If you have any trouble completing the export, contact a member of the ValueXpress team: Mike Sneden (mikes@valuexpress.com), Dennis Suh (dsuh@valuexpress.com) or Gary Unkel (gunkel@valuexpress.com).