Running Balance Sheet by Class for an X period, I only see the beginning balance, not the balance which include subsequent transactions for same period. Why is this?

The Income and Expenses categorize in the Profit and Loss statement, Nick.  I'll discuss the details below about this. 

The reason why your balance isn't shown in subsequent transactions for the same periods is that QuickBooks Online categorizes income and expenses in the profit and loss statement, which tracks performance over time. In contrast, the balance sheet provides a snapshot of assets, liabilities, and equity. As a result, only these items are visible on the balance sheet, not income or expenses. Income and expenses do not directly appear on the balance sheet unless they involve specific financial activities.

In summary, income and expenses themselves are not Balance Sheet items but become visible when they are associated with bank or credit card transactions that affect asset accounts.

Moreover, I'll provide valuable articles that can help which part of the transactions are supported in running balance sheet. These articles provide more details on it. 

• Run a balance sheet by class or location in QBO.
• Run a Profit and Loss report by bank account in QBO.

I'll be on the lookout for your response if you have further questions about running your balance sheet by class and will address this promptly.

Thank you for your explanation. Then, what still puzzles me is, when running the standard (consolidated/unfilterred) Balance Sheet by class, there yes I Do see the total balance of an X class, including subsequent transactions. However, as soon.as I filter by class, it only show the Beginning Balance (done via journal entry). I would think if your exlanation is true (with all due respect), then the unfiltered Balance Sheet (including transactions during month) for that same period should then also NOT show within the same period. Please explain.

Thanks for reaching out to this forum, Nick297. I appreciate the effort and additional information you've shared. With that in mind, let me clarify and explain the discrepancies you've encountered while running your Balance Sheet report in QuickBooks.

Before we proceed, I'd like to about the Balance Sheet by Class report you mentioned. If you could provide screenshots or any specific details about this report, it would greatly help us provide the most accurate explanation.

Moreover, if you're referring to the Profit and Loss by Class report when you mention the Balance Sheet by class, it's important to understand that this report is a detailed financial statement that separates both income and expenses based on specific classes you have defined in the system. This classification allows for an in-depth view of the financial performance of various parts of your business, including their transactions.

On the other hand, if you are discussing a Balance Sheet that has been filtered by Class, please know that this report gives a snapshot of your company's financial status at a specific time. Also, it will display your company's assets, liabilities, and equity, all organized by class. This setup is useful for observing how different areas of your business are financed and how resources are allocated.

With that in mind, please expect differences in how financial data is presented in QuickBooks since each report contains information designed for specific purposes. This distinction helps to provide a comprehensive view of all aspects of your business's finances.

Furthermore, if you want detailed guidance in personalizing your reports in QuickBooks, here's an article that you can check out: Customise reports in QuickBooks Online.

If you have any more questions or need further clarification on this topic, please don't hesitate to post them here, Nick297. We're here to assist you with any issues you may have.

Ok, I understand.  Thank you for the information. I now have a clear idea of how the the financial reports work using classes

Kind regards.