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S
SJB66
September 5, 2023
Question

Restricted funds

  • September 5, 2023
  • 1 reply
  • 0 views

I can see that QuickBooks is able to analyse income and expenditure by restricted funds, using by using 'class' to differentiate funds. However, I've not been able to find anything in QuickBooks to help with reporting restricted funds balances for the Statement of Financial Position. I'm fairly new to this and notice that colleagues are tracking restricted fund balances via Excel, which is time consuming and can lead to mistakes. Surely there must be a way to track these balances in QuickBooks?

1 reply

G
GeorgiaC
September 5, 2023

Hi SJB66, thanks for joining the Community.

 

At the moment it isn't possible to run a balance sheet/statement of financial position by class. This is because the balance sheet headers refer to accounts, whereas classes are a detail assigned at a transactional level (for further info, please refer here). For a more accurate comparison between classes in QBO, you may consider running the Profit and Loss by Class. 

 

You can also submit feedback for further reporting options by clicking the Cog > Feedback in QB. Feedback submitted here is reviewed by our product development team, who regularly review and implement changes. Thanks!

S
SJB66Author
September 5, 2023

Thanks for your reply Georgia,

 

I'm quite surprised that QuickBooks isn't able to track and report restricted fund balances as this is quite a fundamental aspect of charity accounting. It would be good to hear from anyone else working in the charity sector and whether they have any solutions. I'll also feedback to your product development team as you suggest.

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