diff --git a/share/demo.kdbx b/share/demo.kdbx
index 35fd79ce..053dc29d 100644
Binary files a/share/demo.kdbx and b/share/demo.kdbx differ
diff --git a/src/core/CustomData.cpp b/src/core/CustomData.cpp
index fb959e18..1fa2cb10 100644
--- a/src/core/CustomData.cpp
+++ b/src/core/CustomData.cpp
@@ -24,7 +24,7 @@ const QString CustomData::LastModified = QStringLiteral("_LAST_MODIFIED");
 const QString CustomData::Created = QStringLiteral("_CREATED");
 const QString CustomData::BrowserKeyPrefix = QStringLiteral("KPXC_BROWSER_");
 const QString CustomData::BrowserLegacyKeyPrefix = QStringLiteral("Public Key: ");
-const QString CustomData::ExcludeFromReports = QStringLiteral("KnownBad");
+const QString CustomData::ExcludeFromReportsLegacy = QStringLiteral("KnownBad");
 
 CustomData::CustomData(QObject* parent)
     : ModifiableObject(parent)
diff --git a/src/core/CustomData.h b/src/core/CustomData.h
index 356d2c69..37d8ef55 100644
--- a/src/core/CustomData.h
+++ b/src/core/CustomData.h
@@ -51,7 +51,7 @@ public:
     static const QString Created;
     static const QString BrowserKeyPrefix;
     static const QString BrowserLegacyKeyPrefix;
-    static const QString ExcludeFromReports;
+    static const QString ExcludeFromReportsLegacy; // Pre-KDBX 4.1
 
 signals:
     void aboutToBeAdded(const QString& key);
diff --git a/src/core/Entry.cpp b/src/core/Entry.cpp
index e7e000c2..e17b3210 100644
--- a/src/core/Entry.cpp
+++ b/src/core/Entry.cpp
@@ -46,6 +46,7 @@ Entry::Entry()
     m_data.iconNumber = DefaultIconNumber;
     m_data.autoTypeEnabled = true;
     m_data.autoTypeObfuscation = 0;
+    m_data.excludeFromReports = false;
 
     connect(m_attributes, &EntryAttributes::modified, this, &Entry::updateTotp);
     connect(m_attributes, &EntryAttributes::modified, this, &Entry::modified);
@@ -219,13 +220,14 @@ const QSharedPointer<PasswordHealth>& Entry::passwordHealth()
 
 bool Entry::excludeFromReports() const
 {
-    return customData()->contains(CustomData::ExcludeFromReports)
-           && customData()->value(CustomData::ExcludeFromReports) == TRUE_STR;
+    return m_data.excludeFromReports
+           || (customData()->contains(CustomData::ExcludeFromReportsLegacy)
+               && customData()->value(CustomData::ExcludeFromReportsLegacy) == TRUE_STR);
 }
 
 void Entry::setExcludeFromReports(bool state)
 {
-    customData()->set(CustomData::ExcludeFromReports, state ? TRUE_STR : FALSE_STR);
+    set(m_data.excludeFromReports, state);
 }
 
 /**
@@ -1433,6 +1435,9 @@ bool EntryData::equals(const EntryData& other, CompareItemOptions options) const
         // The existance of TOTP has changed between these entries
         return false;
     }
+    if (::compare(excludeFromReports, other.excludeFromReports, options) != 0) {
+        return false;
+    }
 
     return true;
 }
diff --git a/src/core/Entry.h b/src/core/Entry.h
index 1fcd0957..8da09e53 100644
--- a/src/core/Entry.h
+++ b/src/core/Entry.h
@@ -65,6 +65,7 @@ struct EntryData
     TimeInfo timeInfo;
     QSharedPointer<Totp::Settings> totpSettings;
     QSharedPointer<PasswordHealth> passwordHealth;
+    bool excludeFromReports;
 
     bool operator==(const EntryData& other) const;
     bool operator!=(const EntryData& other) const;
diff --git a/src/format/KdbxXmlReader.cpp b/src/format/KdbxXmlReader.cpp
index 03a87ad5..b998668e 100644
--- a/src/format/KdbxXmlReader.cpp
+++ b/src/format/KdbxXmlReader.cpp
@@ -726,6 +726,10 @@ Entry* KdbxXmlReader::parseEntry(bool history)
             parseEntryString(entry);
             continue;
         }
+        if (m_xml.name() == "QualityCheck") {
+            entry->setExcludeFromReports(!readBool());
+            continue;
+        }
         if (m_xml.name() == "Binary") {
             QPair<QString, QString> ref = parseEntryBinary(entry);
             if (!ref.first.isEmpty() && !ref.second.isEmpty()) {
@@ -747,6 +751,13 @@ Entry* KdbxXmlReader::parseEntry(bool history)
         }
         if (m_xml.name() == "CustomData") {
             parseCustomData(entry->customData());
+
+            // Upgrade pre-KDBX-4.1 password report exclude flag
+            if (entry->customData()->contains(CustomData::ExcludeFromReportsLegacy)) {
+                entry->setExcludeFromReports(entry->customData()->value(CustomData::ExcludeFromReportsLegacy)
+                                             == TRUE_STR);
+                entry->customData()->remove(CustomData::ExcludeFromReportsLegacy);
+            }
             continue;
         }
         skipCurrentElement();
diff --git a/src/format/KdbxXmlWriter.cpp b/src/format/KdbxXmlWriter.cpp
index c71aa42b..a404fd3c 100644
--- a/src/format/KdbxXmlWriter.cpp
+++ b/src/format/KdbxXmlWriter.cpp
@@ -344,6 +344,9 @@ void KdbxXmlWriter::writeEntry(const Entry* entry)
     writeString("OverrideURL", entry->overrideUrl());
     writeString("Tags", entry->tags());
     writeTimes(entry->timeInfo());
+    if (entry->excludeFromReports()) {
+        writeBool("QualityCheck", false);
+    }
 
     const QList<QString> attributesKeyList = entry->attributes()->keys();
     for (const QString& key : attributesKeyList) {