Reporting time
Click on Reports on the top right of your Toggl page and you will see something like this:
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The default report type that is opened is 'Summary'. You also have the option of viewing the 'Detailed report' for individual time entry detail or 'Weekly' for breakdowns by week. (1)
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The default date range in reports is 'this week'. Click on the range to change it (2), and the modification is applied to the whole report automatically.
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The number of different filters (3) allows you to get exactly the information you need about your tracked time. Click 'Show' to view the modified report. Click 'Clear' and then 'Show' again to clear the filters and start from the beginning (4).
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Pro plan subscribers can also choose to turn rounding on and view their data in decimal or minute format. Click on the Settings wheel by 'Duration' (5) to make those choices.
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When your report is ready, you can export all this data to a different format (6).
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Bookmarking (7) allows you to easily share your reports - read all about it here.
Summary
In addition to all the above, this report type allows you do further with your information:

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‘Group by’ determines the data that is shown on the pie chart on the sidebar and
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‘Show data’ decides the details displayed in the listings below the graphs.
Tip 1:
Hover over each section of the Pie chart to see the percentage of total time spent on the particular section:

Tip 2:
Click on an item in the listing to go directly to 'Detailed report' and see further details about it.
Detailed report
As the name suggests, this report gives you details on your tracked time. Below the bar chart, this report will look something like this:

So some important differences here are that you can see:
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exactly when each time entry was made;
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the tags you added to them;
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the billable amount of each individual entry and who made it;
Instead of grouping, Detailed report allows you to delete multiple entries at a time or add/remove tags to many entries at once.
You still have the rounding and time decimal options with Duration as well as all the same Export choices.
Tip 3:
Use the added 'Description' filter to find particular time entries
Tip 4:
Click on a column heading to view the data in the order that you want it (e.g. alphabetically by Description)
Weekly
A major difference here is your grouping options and a completely different listing.
For example, group your report by team and earnings and get an overview of exactly how much each of your team members earned each day of the week for each project:
Note that in Weekly report, you can only choose date ranges one week at a time.