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A
akpsifinancecomm
March 4, 2024
Question

The names of my reports changed from "Profit and Loss" to "Statement of Activity" and "Balance Sheet became" "Statement of Financial Position" - How do I change back?

  • March 4, 2024
  • 1 reply
  • 0 views
"Expenses" is now called "Expenditures"  Did my account switch to the British version?

    1 reply

    E
    Ethel_A12
    March 4, 2024

    Hello there.

     

    I understand some terms in your QuickBooks Online has changed.

     

    It seems that your account become a non-profit. Don't worry, I'll show you how to change your company settings.

     

    Here's how:

     

    1. Go to the Gear icon.
    2. Choose Account and Settings.
    3. Click the pencil icon for the Company type.
    4. From the Tax form dropdown arrow, choose the correct type of business you have.
    5. Hit Save.

     

    If you want to make changes with your company information, you can refer to this article for the detailed steps: Change your business name, contact info, or EIN in QuickBooks Online.


    Feel free to click the Reply button below if you have questions about changing company settings in QuickBooks Online. I'm always here to help. Have a great day.

    A
    akpsifinancecommAuthor
    March 5, 2024

    Thanks Ethel_A:

     

    Our account is a non-profit.  That is correct, and until recently we had reports titled “Balance Sheet”, etc.  Was the change in report names part of a recent change at Quickbooks?

    J
    JoanaC
    March 5, 2024

    Thank you for your prompt reply on the thread.

     

    Yes, since your account is non-profit there will be changes on your QuickBooks Online. After you change your tax form, "Invoice" should now say "Pledge". You should also see the common reports for nonprofits like Statement of Activity instead of "Profit and Loss" and Statement of Financial Position instead of "Balance Sheet".

     

    For more information about reports, you can refer to this article:

     

    Configure an account for a nonprofit organization.

     

    I'll be sharing this article also to assist you with your transactions:

     

    •Track funds you receive from donors in QuickBooks Online
    •Customize invoices, estimates, and sales receipts in QuickBooks

     

    If you still have concerns, you can always reply on the thread or create a new post. Have a lovely day!

     

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