How do I run a Statement of Owner's Equity? Our accountant says it is one of the core reports (along with Income Statement and Balance Sheet) I should produce every qtr.

I have the instructions to help you access the owner's equity report in QuickBooks Online, ALFAmy. I'm happy to guide you through it.

Owner's equity represents the capital or assets contributed by the owner to the business. It comprises the Owner's Capital account plus the net income at the beginning and end of the period. QuickBooks Online does not offer a specific report for this purpose. However, you can customize a Balance Sheet report to monitor the quarterly owner's equity data. Follow these steps to generate the report:

1. Navigate to the Reports menu.
2. Use the Search field to locate and select the Balance Sheet report.
3. Specify a Report period that covers the end of two consecutive quarters to compare the ending balances in Owner's Capital and net income/retained earnings.
4. Under Display columns by, opt for Quarters.
5. Finally, click on Run report.

You can also customize this report to show specific information in the desired format, and then memorize it to save its configuration settings for future use.

Should you have additional questions about tracking your owner's equity or need assistance with generating reports in QuickBooks Online, I'm just a click away. Notify me by responding to this message. Keep safe.

Thanks SirielJeaB. I have done that, but I'm having trouble making sense of the transactions. If I run it as of 12/31/2023, is the amount of Owner's Equity at the bottom of the "Amount" column or the "Balance" column? It's laid out on the page in a confusing way.

Thank you for reaching out to us, ALFAmy. We understand the importance of clarity when it comes to understanding your financial data, and we are here to assist you every step of the way.

Currently, QuickBooks Online (QBO) does not have a specific report for the Statement of Owner's Equity (SOE). However, you can pull up a Balance Sheet report and customize it to monitor the quarterly owner's equity data. Here's how to run this report:

1. Go to Reports and in the Find report by name field, search for Balance Sheet. Then, select the report.
2.  Set the Report period to cover the end of two consecutive quarters to compare the ending balances in Owner's Capital and net income/retained earnings.
3. Under Display columns by, in the dropdown select Quarters.
4. Hit Run report.

Just in case you'd like to save a report in QBO with its current customization settings, you can refer to this article for your future reference: Memorize reports in QuickBooks Online

Keep us posted if you have further questions about running reports in QBO. The Community is always available to help. Best regards. 

@ALFAmy 

It's obvious from the responses from QB employees that they don't know what a Statement of Owner's Equity (SOE) is.  QBO does not have a report for this.  I assume this is a sole proprietorship.  First, make sure you only have one owner's equity account called 'Owner's Capital'.  Any draws taken or contributions made to the business should be booked to that account and retained earnings should be closed to that at year-end.  Then, to create a SOE, it's just your Owner's Capital account + net income at the beginning of the period and Owner's Capital account + net income at the end of the period.  So, for example, if you want to see your SOE for Q1 2024, run a Balance Sheet report and under 'Display columns by', select Quarters.  Make sure the report period is long enough to view the end of two consecutive quarters so you can compare the ending balances in Owner's Capital and net income/retained earnings (if Q4).    

OMG that makes so much sense. I truly wasn't sure how to reply to their answer - although their efforts and responsiveness are very much appreciated - and describe how that didn't solve my problem. My real issue is that I've inherited a set of books for this sole proprietorship, and OE doesn't appear to have been handled as you describe. But I think I can clean it up without breaking anything. Thanks for your help!

How to have each partnership draw report ?? Sample:;: if there is 4 partnership!! 

Hi,

Here is a good video explaining equity!

https://www.youtube.com/watch?v=_v2SA0asdnQ