Red seems to have gone offline so maybe I can answer?
There are 2 key reports. The first is on the Lost Cousins Tab, where you can display each census separately, and it will show you a list of people with a recorded census entry in your family tree that you can add to Lost Cousins. There is a very handy summary table as well.
By pressing the 1881 button, you get a report like this with the census details and names.
The other report Red mentioned is found on the Search Summaries tab. Select what relationship types you want, i.e. Direct Ancestors, Blood Relations, or even select them all and press the View Colour Census Report. On this report there is now a further filter on the top line which you can now limit what is displayed. Red Dragon mentioned he was looking at Yellows, which are the records that have a census recorded but he hasn't entered a Lost Cousins Fact to say that he has entered it on the LC site. Here is mine for 1881.
The Colour Census report is very very useful. You can see at a glance which censuses are missing so that you can go and look for them. It even allows you to double click on a cell and it will go and search Ancestry or one of the other providers for you.
While we're talking about the reports, the sister report to the Colour Census report is called the Colour BMD report. This also shows in colour the status of each person's BMD. Each colour indicating whether you have an exact date, an approx date, no date recorded, children but no partner, no weddings recorded etc.
Regardless of which FHS you use, everyone will benefit if they used FTA as well.