What kind of report? Would an Execute SQL query achieve the data you want in a "text" table of data?
I am not sure if that would achieve what I am doing, the reports are basically using each record in a list view based on a find, then sorting it based on the report, with subsummary totals. I am not sure if I am able to run it with sql and achieve the same result or not.
What's the difference between Tools and Equipment? Could these tables be combined (not just for the report)?
without exporting the records from each table everytime i run it and importing them into a new table to combine them into one table to run it.
There's nothing wrong with that approach; and you don't have to necessarily do an import; collecting your data in a loop, then unpacking – or even (à la Virtual List) just referencing them – should work fine.
I have no experience yet with SQL, but the traditional FM approach to this would be to build your report layout in the most granular table (line items level, as it were), which enables you to also include related data from any other tables higher up the relationship path.