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ixAmjadxi
March 10, 2025
Question

How can I carry-forward balances from last year please?

  • March 10, 2025
  • 1 reply
  • 0 views

Hi All, Our NGO start working in Dec. 2023 and every time I need to run the report "Activities by Class" I should use the start day as Dec 2023 to have an accurate balances. After searching online, they said I should "close the period" from the setting, I did that and it's still not working. Could you please advice? Thank you! BR, Amjad

1 reply

MsNorthPND18
MsNorthPND18
March 10, 2025

The main purpose of closing your books is to prevent unwanted changes to your past transactions, ixAmjadxi. I have some extra tips that can help you streamline your reporting process effectively.

 

To ensure that your Activities by Class report reflects the correct balances, it’s important to set up the starting date and fiscal year settings accurately. Since your NGO began in December 2023, you should set December as the starting month of your fiscal year. This adjustment will help in automatically rolling over the closing balances from the previous period as opening balances for the new period.

 

Here's how:

 

  1. Click the Gear icon.
  2. Choose Account and Settings.
  3. Select Advanced then in the Accounting section.
  4. Pick the First month of the fiscal year dropdown, then choose the month you want to start your fiscal year.
  5. Select Save, then click Done.

 

Check out this link for guidance on how to proceed with customizing your reports for transactions: Customize reports in QuickBooks Online.

 

My top priority is to ensure that your reporting experience is both seamless and accurately reflective of your NGO's activities. Please don't twice to reach out to the Community again if you find yourself needing additional help with managing your business finances.

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