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Transaction Detail by Account Showing only Positive Numbers for all Transactions

I have to keep track of restricted funds for a church I work for. I use classes to track the funds, and I ran a "Transaction Detail by Account" Report and customized it by selecting "Class" for the Rows/Columns and by selecting "Class" as the filter. This gives me exactly what I want because it then just gives me a running total for each class YTD, however it is showing both deposits and checks as positive numbers, so the balance is wrong for each fund account because it's just adding up every transaction, instead of subtracting the checks. How do I get expenses (checks, expenses, bills, etc) to show as negative?

1 Comment
QuickBooks Team

Re: Transaction Detail by Account Showing only Positive Numbers for all Transactions

I've replicated your concern, Topknotchbookkeeping.

 

I've added ELCA World Hunger as an expense account, recorded the deposit as negative, then we've got the same result. Both deposit and check are in positive amount. Normally, in the Transaction Detail by Account report, a check is positive once you're using an expense account. This will only be negative once you've set up ELCA World Hunger as an income account. Having said that, you can change it to an income account.

Here's how:

  1. Click Lists, then go to Chart of Accounts.
  2. Look for the account.
  3. Right-click on it, then choose Edit Account
  4. Click the Account Type drop-down arrow, then choose an income account.
  5. Click Save & Close

Please check my screenshots as your reference.

 

 

 

 

 

I also suggest conferring with your accountant on the best way to categorize the ELCA account. 

 

Let us know if you have other concerns. We'll be right here. 

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