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?

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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

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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