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kerri-portlandin
May 30, 2024
Question

Non profit reporting

  • May 30, 2024
  • 1 reply
  • 0 views

Hi,

I need to figure out how much is left from each pot of money that has been granted to us. We have set them up as classes but I cannot figure it out! I was nearly there using a profit and loss by class report but it did not include the opening balance of any of the pots. Any idea how I can get this to run? 

1 reply

S
SirielJeaB
May 30, 2024

I can help you get back on track with classes and opening balance in QuickBooks Online (QBO), Kerri.

 

The opening balance refers to the funds or capital in a company's account at the beginning of a new financial period.

 

The Profit and Loss statement primarily focuses on revenues and expenses. Since the opening balance is an equity amount, it will not appear in the Profit and Loss by Class report. Instead, I recommend generating a Balance Sheet by Class in QBO. The balance sheet shows information on your assets, liabilities, and equity. It also displays the opening balance. I can guide you through the process.

 

  1. Go to Reports (Take me there).
  2. Search and open the Balance Sheet.
  3. Click on the Customize option.
  4. Go to the Filter section and hit its dropdown button.
  5. Hit the Class box.
  6. Select Run report.

 

You can also memorize reports to save the customization settings in QBO.

 

Return to the Community space anytime if there's anything else you need to know about running reports in QuickBooks. I'll be sure to respond to you promptly. Have a good one.

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