Balance Sheet by Class in Quickbooks Online

Hi there, dmcclure0925.

Welcome and thank you for posting your concern in our forum QuickBooks Community. I'm also glad that you choose to upgrade today to Quickbooks Online Plus and appreciate you for sharing detailed information about what you need.

Since your business type is nonprofit, the report that you need is listed with a different name. That's the reason the Balance Sheet is not classified as an option in Reports. I suggest running the Statement of Financial Position Summary. Then, customize this to edit the "Display Columns by" Classes. This way, you'll be able to view the transactions by class.

Here's how:

Click the Reports menu on the left panel.

Go to the search bar and choose Statement of Financial Position Summary.

Click the Customize button.

Go to the Columns drop-down list, select Classes.

Hit Run report.

For additional information on how you can customize a report to focus on the details that you want to see, you can click this article: Customize reports in QuickBooks Online.

Please refer to this article to see steps on how you can record transactions associated with donations: How to record donations or charitable contributions.

Let me thank you for being a part of our QuickBooks Online family. Post again or leave a comment on this thread should you have any additional questions or concerns. Take care and have a great rest of the day!

In my Balance Sheet report in Quickbooks desktop, it broke down my bank account balance into the three classes as well (showing the cash balance for each respective class where all three combined equal the total bank balance). Is there a way to do this in the Statement of Financial Position?

Example:

General Fund        Missions Fund        Building Fund        Checking Balance

$100                       $100                        $100                       $300

It looks like you're using QuickBooks Non-Profit edition, Dmcclure0925.

You're unable to customize the Statement of Financial Position report and add the Class column. You can continue using the Balance Sheet by Class report for now. It will show you the same information. 

You can also customize the report so you can focus on the details that matter to you.

If there's anything else that you need, feel free to let us know. We're around to help you. Take care!

I have this same problem and the thing is that income and expenses that are being assigned to a certain class do not actually change that balance of the checking account by class.  Desktop used to do this so the BS by Class was useful as it showed the different portions of the checking account classfied by class and went up or down based on income and expenses from those classes.  This seems like a QBO glitch.  Is there a plan to fix this?

I can share insights on why the balance of your checking account by class doesn't change when generating a Balance Sheet report in QuickBooks Online (QBO), @eswing.

Income and expense accounts don't appear in the Balance Sheet report because this report mainly deals with assets, liabilities, and equity accounts. Therefore, these accounts are included in the Profit and Loss report, where revenue and expenses are detailed.

Additionally, the Balance Sheet report in QBO doesn't show income and expense transactions with class because classes are associated with the detailed portion of transactions, not the header accounts.

To know more about which part of the transaction QuickBooks gets data from before pulling up the Balance Sheet report by class, please refer to this article: Run a balance sheet by class or location in QBO.

In the meantime, let's pull up the Profit and Loss report wherein you can see income and expense transactions associated with a specific class:

1. Go to the Reports tab.
2. Search for Profit and Loss report.
3. On the Display Columns By section, select Classes.
4. Click Run Report.

Furthermore, you can utilize this article to learn how to save your current customization settings on your report: Memorize a report in QBO.

I'm always here to lend a hand with additional questions or concerns about income and expenses with the assigned class and Balance Sheet report in QBO. Take care.