Is there a work around the problem where the balance sheet doesn't allocate the bank balance by classes? Is there an alternative to classes to avoid this issue?

Hi, @lschurchf. Yes, you can use location tracking as an alternative to classes when classifying your entries. I'm here to guide you on how.

When running a report, QuickBooks Online (QBO) uses the information from the report's headers or details to show data for a specific division. The Balance Sheet uses data from headers and classes are only linked to the transactions' details. In your case, you may categorize your entries by location since it's linked to both.

You can learn more about this feature from this article: Set up and use location tracking.

When you run your report, follow these steps:
 

1. Click on Reports on the left pane, then open the Balance Sheet Detail report.
2. Make the necessary customization.
3. Tap on the Gear or Settings icon beside Export.
4. Tick the box beside Location.

For additional resources while running your report in QBO, check out this link: Run a balance sheet by class or location in QuickBooks Online. 

The system also allows you to export your reports to Excel if you want to use them outside of QuickBooks or alter more customizations. Here's your guide: Export your reports to Excel from QuickBooks Online.

You can always leave a comment below if you have any other questions about your Balance Sheet report or bank balances. I'm just a few clicks away to help. Have a good one!

Thank you, I will give it a try

I reviewed the location tracking option which seems like a better option. Although it also has a limitation where I can't split the bank deposits and bank transactions between different locations. How would you recommend addressing this issue?

I think this solves my problem. Thank you!

I'm happy to hear that my colleague was able to solve your question, lschurchf.

If you have other QuickBooks concerns, please don't hesitate to post again. The Community forum is always open to provide steps and answer your questions.

Thank you and take care always!