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kountzem77
Level 1

Is there a Statement of Functional Expenses available in Quickbooks Online?

 
3 Comments 3
Rustler
Level 15

Is there a Statement of Functional Expenses available in Quickbooks Online?

No it is not, and about the only to come close is to restructure your chart of accounts to match, use parent accounts for the functional areas with expense sub accounts

Rose-A
Moderator

Is there a Statement of Functional Expenses available in Quickbooks Online?

Hey there, kountzem77.

 

Right now, running a Statement of Functional Expenses is currently unavailable. However, you can pull up and run the Statement of Cash Flows report in QuickBooks Online.

 

The report for a nonprofit organization is similar to that of a for-profit business. It reports the organization's change in its cash and cash equivalents during the accounting period. To access this report, see the steps below:

 

  1. Click Reports in the left panel.
  2. Search for Statement of Cash Flows report in the search box.
  3. The statement of cash flows consists of three sections:
    1. net cash from operating activities
    2. net cash from investing activities
    3. net cash from financing activities

    The operating section reports the changes in cash other than those reported in the investing and financing sections.

    The investing section of the statement of cash flows reports the amounts spent to purchase long-term assets such as equipment, vehicles and long-term investments. The investing section also reports the amount received from the sale of long-term assets.

    The financing section of the statement of cash flows reports the amounts received from borrowings and also any repayments.

For additional insight into the report, I'm adding an article that I recommend:

 

Feel free to drop me a reply below if you need additional assistance. I'd be more than willing to lend you a hand.

JAETStephanieP
Level 2

Is there a Statement of Functional Expenses available in Quickbooks Online?

I just found this thread when searching how to run this report for our annual audit. I am shocked. It is really unacceptable for there to be the option to set up your company as a nonprofit organization, and then not have the option to run a Statement of Functional Expenses report, especially when it it is offered in the desktop version of QB. Isn't the point of moving to QBO to increase efficiency and functionality? And yet, less reporting capabilities are offered in QBO than the outdated QB desktop products. I have been severely disappointed in QBO and this new revelation has me considering switching back to desktop.

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