Microsoft Excel shows the final output and lets you make modifications.The Report Designer window that allows you to customize the report.The QuickBooks file in which your data is stored.The QSW has three main parts and that are as follow: Once you start a new statement, all your process is done in the Excel window. It syncs your changes in QuickBooks on a regular basis. By using QSW, you will be able to create customized, professional financial statements from a company file. The QuickBooks Statement Writer (QSW) is an add-on package to create professional financial statements that consist of Generally Accepted Principles.