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Fund "Balance Sheet accounts" within Quickbooks class accounting

by Pete
(Durango, CO)

In your Fund Accounting book, when using Quickbooks, the Class Tracking is recommended.


Having done that I see how to run P&L type reports but is there a way to segregate Balance Sheet accounts by Class?


Comments for Fund "Balance Sheet accounts" within Quickbooks class accounting

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Feb 28, 2019
 QBO Net Asset Detail Type?
by: Anonymous

In QBO, what should the Detail Types be for the other Net Asset accounts? I don't believe we can make them all Retained Earnings, but none of the other options seem to make sense either.
Feb 28, 2019
 Balance Sheet By Class/Fund
by: Vickey

Yes you can, but I don't usually run one...except for some nonprofit organizations that we are tracking with the 2 new categories issued by FASB a couple of years ago:

1) Net assets without donor restrictions
2) Net assets with donor

Here is a great explanation on how to run a Balance Sheet by Class or Location in QBO:

restrictionshttps://www.intuitiveaccountant.com/general-ledger/qbo-balance-sheet-with-classes/#.XHhFcVNKjfY
Feb 28, 2019
 Balance Sheet By Class/Fund
by: Vickey

Yes you can, but I don't usually run one...except for some nonprofit organizations that we are tracking with the 2 new categories issued by FASB a couple of years ago:

1) Net assets without donor restrictions
2) Net assets with donor

Here is a great explanation on how to run a Balance Sheet by Class or Location in QBO:

restrictionshttps://www.intuitiveaccountant.com/general-ledger/qbo-balance-sheet-with-classes/#.XHhFcVNKjfY
Feb 28, 2019
 QBO Net Asset Type
by: Vickey

I use Owners Equity. Personally, I try to limit how many "funds" I set up that way. For most churches, I set up 2:

1) Unrestricted Net Assets
2) Net Assets With Donor Restrictions

Then if I need to seperate that 2nd one out more ... I set up sub Owner Equity accounts under it.

Such as funds that I need to track over a period of multiple years and keep a running total of.

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Join in and write your own page! It's easy to do. How? Simply click here to return to QuickBooks.

If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.

Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)



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