Basic Reporting For Missions Trips and Retreats

Thank you for reaching out to the Community about your reporting concern, bjones964.

In QuickBooks Online, we have reports specifically available in each version. To ensure the best solution, I have to ask for more details about the issue.

May I know what specific accounts did you use for each category? Also, what are the other accounts you set up? How did you classify each segment?

Any information you can share will help get me on the same page. Then guide me on the steps we have to perform to build the report.

I’m looking forward to working with you again. Enjoy your weekend.

Rasa-LilaM thank you for your response.

I tried setting the mentioned accounts up as sub-accounts under my Checking. I also tried setting them up as Classes under a Type-Expenditures/Detail Type-Other Business Expenses. Additionally, I also tried setting them up as their own separate Type-Other Expenditure/Detail Type-Other Miscellaneous Expenditure.

I used the non-profit template for setting up my Chart of Accounts. The accounts I have setup are:

• Checking (linked to my bank)
• Savings (linked to my bank)
• Credit cards (linked to the credit card company)
• Contributed income (Revenue/Non-Profit Revenue)
• Expenses (Expenditures/Repair & Maintenance)
• Other expenses (Expenditures/Other Miscellaneous Service Cost)
• Misc. expenses (Expenditures/Office/General Administrative Expenses or Other Business Expenses)
• Payroll Expenses (Expenditures/Payroll Expenditures or Payroll Wage Expenses)

My apologies if I misunderstood your questions. I have a limited accounting background, and I am a volunteer bookkeeper for the church. I also am a novice QBO user.

Let me know if you need any further clarification.

Thank you for getting back to us, @bjones964. I’ll help you pull up the right report for your net income and loss in QuickBooks Online (QBO).

Running a Profit and Loss Report will allow you to report the net income and loss monthly to your organization. The report will show all the expenses and income for all the accounts in your QBO company. 

But first, let’s make sure that the option to track your transactions by class is turned on. Here’s how:

1. Go to the Gear icon.
2. Select the Company Settings.
3. Under Company, click the pencil icon for Categories.
4. Check the boxes for Track classes and Track locations.
5. Click Save.

Once done, you can then run the report by going to the Reports menu and typing Profit and Loss by Class in the search bar.

Please see this article for additional information on how to manage your custom reports in QBO: Common custom reports in QuickBooks Online.

Let me know if you have any further questions about the reports. The Community always has your back. Have a great day!

@RoseJillB thank you for responding.

I have set up Class and Location reporting as you directed. However, I am still unclear how this will work. How can I:

1. Create a starting balance in the fund?
2. Post income/expenses to the fund?

I then want to be able to see the income/expenses each month to know the ending balance and compare from month-to-month.

Thanks for getting back with the Community, bjones964.

You can create opening balances for accounts from their registers.

Here's how:

1. Use your Gear (⚙️) icon.
2. Go to Chart of accounts.
3. Locate the account and click its View register option.
4. Find your opening balance entry. You can use the date column to sort your oldest records first.
5. Choose the opening balance record.
6. Edit its date and amount as necessary. If needed, hit Edit to make changes.
7. Select Save.

In the event you don't see an opening balance entry in your account(s), you'll need to create and reconcile a journal entry.

In regard to posting income and expenses to accounts, you can post income by using the + New button, going to Bank deposit, then selecting the appropriate account in your Account drop-down list.

The process is similar for expenses. You'll use your + New button, choose Expense, then select the correct account from your Payment account drop-down.

When creating deposits or expense records, be sure to enter all of the necessary information and save your entry after selecting the appropriate account.

You can run the same report mentioned in RoseJillB's post to see the income/expense details you're looking for.

If there's any additional questions, I'm just a post away. Have a lovely day!

@ZackE thanks.

Our checking and savings accounts are connected to QBO. We had a check cashed that impacted the Deacon's Fund. If I assign it the the Deacon's Fund it adds to the balance of the Deacon's Fund instead of subtracting from it. So a $500 starting balance with $100 expense ends up being $600 instead of $400. What do I need to do for this?

Hello bjones964!

Thanks for the reply. I'd like to join this thread and assist you in running the report you need.

You'll want to open and verify the $100 transaction. Let's make sure that we used the Expense option from the + New button to record it and selected an expense account. 

In addition, I'd like to know where in QuickBooks Online or what report you used to view the balance. It seems that you are on the vendor's transaction list. If so, please note that the balance under the Total column will show you the total figures of all transactions regardless if it's an expense or not. Instead, review the balance from the figures in the upper-right section.
 

I also added an article if you need more help in running, customizing, and saving a report: Run reports in QuickBooks Online.

You're still welcome to ask here if you have concerns about running reports. Need a guide or two in handling transactions? Let me know the details and I'll help you out. 

@AlexV hello.

I used the 'View register' from the Chart of Accounts. The bank feed is supplying the expense. Do I still need to enter a new expense transaction?

I have not used any vendor report and currently have no plans too.

Hello bjones964!

You don't need to create a new expense transaction. Let's review how we categorize it to ensure it won't result in issues.

Go to the Banking or Bookkeeping menu and select Bank transactions. From the Categorized section, locate the $100 expense transaction and review the account used. You can click on Undo, then go back to the For review section if you need to edit and update the account selected.

If the same thing happens, you'll want to use an incognito window and check the balance from there. Incognito won't save your browsing history which can result in unusual behavior. 

These are some of the shortcut keys:

• Google Chrome: Ctrl + Shift + N
• Safari 11 or newer: ⌘ + Shift + N
• Mozilla Firefox: Ctrl + Shift + P
• Microsoft Edge: Ctrl + Shift + P 

Also, you'll want to clear the cache and make sure you're using a supported and up-to-date browser. This can fix any browser-related issues.

Here's the link if you need help in reconciling your accounts: Reconcile an account in QuickBooks Online.

I'll be here if you need more assistance with this. Take care!