The solution was to be more verbose in the parameter setting for report.url. For those who are new (like I am): the parameter settings can be reached by first enabling 'Developer mode' on the right side of the settings dashboard under the "Share the Love" box. Once that's done, you have access to additional menus in the settings sidebar. In parameters -> system parameters, create a new key called 'report.url' and set the value to 'http://127.0.0.1:8069/'. The formatting of the value is important; don't leave out http:// or the ending slash. This is what was causing my reports to fail.

The 'My Company' issue is a separate one and can be resolved in inventory -> warehouse management -> warehouses.