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ddecusatis1
January 24, 2023
Question

Statement of Cash Flows - Classification

  • January 24, 2023
  • 1 reply
  • 0 views

Is there a way to change the classification of items in the SOCF in Quickbooks Online (i.e. to choose how to classify items in either the operating, investing, or financing sections)?

 

I am seeing that in QBO, the change in A/D (i.e. Depreciation expense) is included in the investing section of the SOCF.  This is 100% not GAAP (as depreciation expense should be a non-cash add-back to net income in the operating section). 

 

Does anyone know how to update/customize the presentation of line items in the SOCF in QBO, since the standard presentation in QBO is non-GAAP?  Thinking there has to be a workaround for this.

 

 

 

    1 reply

    A
    AileneA
    January 24, 2023

    Hello, ddecusatis1. 

     

    The option to reclassify in the Statement of Cash Flows is currently unavailable for online versions of QuickBooks. This handy button is something we would also love to see in our future product updates, so it's easier for you to track your finances accurately.
     

    Through our Feedback board, we can pass a request here about this feature. These requests and suggestions are forwarded to the Product Development Team, and I want to let you know that your voice matters, and each update our developer team creates are considered that it benefits our customer's business. 
     

    Here's how: 

     

    1. Access your QuickBooks Online company.
    2. In the upper-right corner, click the Gear icon.
    3. Under the Profile column, select Feedback.
    4. Enter a brief description of your product suggestion, and then click Next.
    5. Type your email address.
    6. Once done, click Send Message.

     

    I'm adding a few related articles about the Cash Flow Statement in QBO and other resources to help you get around with the program:

     

     

    Let me know if you have any other questions about classifying your SOCF, or anything else. I’d be delighted to help. Have a great day!

    D
    ddecusatis1Author
    January 26, 2023

    It’s disappointing to hear that this is not available, particularly if it is available on legacy desktop versions. In my view, anything that was built into the legacy product should be considered functionality that is needed in the online version, particularly if the intent is to try to get desktop users to migrate to online.

    It’s hard to do so if the product doesn’t have the same functionality (and it is frustrating because the coding know-how should be in-house at Intuit, since the functionality already exists in legacy products).

     

    I am curious if Intuit understands the level of frustration this causes, particularly for trained accountants who often feel they continuously have to work around QBO’s “small business mindset” in order to get GAAP compliant accrual accounting results and reports. 

      R
      Rico983
      March 28, 2025

      Yes, I agree, what a disappointment.  Please fix this egregious missing product feature.  For those accountants who wish to issue GAAP compliant financial statements, I would not recommend QBO. 

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