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A
ALFAmy
March 29, 2024
Question

How do I run a Statement of Owner's Equity? Our accountant says it is one of the core reports (along with Income Statement and Balance Sheet) I should produce every qtr.

  • March 29, 2024
  • 1 reply
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1 reply

S
SirielJeaB
March 29, 2024

I have the instructions to help you access the owner's equity report in QuickBooks Online, ALFAmy. I'm happy to guide you through it.

 

Owner's equity represents the capital or assets contributed by the owner to the business. It comprises the Owner's Capital account plus the net income at the beginning and end of the period. QuickBooks Online does not offer a specific report for this purpose. However, you can customize a Balance Sheet report to monitor the quarterly owner's equity data. Follow these steps to generate the report:

 

  1. Navigate to the Reports menu.
  2. Use the Search field to locate and select the Balance Sheet report.
  3. Specify a Report period that covers the end of two consecutive quarters to compare the ending balances in Owner's Capital and net income/retained earnings.
  4. Under Display columns by, opt for Quarters.
  5. Finally, click on Run report.

 

You can also customize this report to show specific information in the desired format, and then memorize it to save its configuration settings for future use.

 

Should you have additional questions about tracking your owner's equity or need assistance with generating reports in QuickBooks Online, I'm just a click away. Notify me by responding to this message. Keep safe.

A
ALFAmyAuthor
March 29, 2024

Thanks SirielJeaB. I have done that, but I'm having trouble making sense of the transactions. If I run it as of 12/31/2023, is the amount of Owner's Equity at the bottom of the "Amount" column or the "Balance" column? It's laid out on the page in a confusing way.

J
Jelayca V
March 29, 2024

Thank you for reaching out to us, ALFAmy. We understand the importance of clarity when it comes to understanding your financial data, and we are here to assist you every step of the way.

 

Currently, QuickBooks Online (QBO) does not have a specific report for the Statement of Owner's Equity (SOE). However, you can pull up a Balance Sheet report and customize it to monitor the quarterly owner's equity data. Here's how to run this report:

 

  1. Go to Reports and in the Find report by name field, search for Balance Sheet. Then, select the report.
  2.  Set the Report period to cover the end of two consecutive quarters to compare the ending balances in Owner's Capital and net income/retained earnings.
  3. Under Display columns by, in the dropdown select Quarters.
  4. Hit Run report.

 

Just in case you'd like to save a report in QBO with its current customization settings, you can refer to this article for your future reference: Memorize reports in QuickBooks Online

 

Keep us posted if you have further questions about running reports in QBO. The Community is always available to help. Best regards. 

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