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  #1  
Old 10-25-2016, 10:03 AM
tvmangum tvmangum is offline
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Location: North Carolina
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Line items missing from reports

I am in the process of correctly classifying my accounts in QB. Instead of having income and expenses I am trying to set the accounts up as liabilities (current and long term), assets, etc. For example, we have membership dues that the local unit keeps a part and the rest goes to National and State PTA. I modified my membership dues income account for the portion that the unit gets to keep and put the portion that goes to National and State as current year liabilities since we have to pay it within the current year.

When I go to print my month ending reports (ex. Budget summary, Budget Year to Date summary, etc.), none of the accounts that I have changed from expenses to liabilities, etc. show up on the reports. I have gone into the customize report option and selected the accounts to include on the report using the multiple account option. I refresh the reports and everything that is still income and expenses show up on the reports but anything that I have changed to liabilities, etc., still does not show up on the reports.

To get the reports to work I changed everything back to a straight income/expense category. It works but I would rather have the accounts classified correctly for tax reporting purposes, etc.

Any suggestions on how I can correctly classify the accounts and get them to appear on my reports?
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  #2  
Old 10-25-2016, 03:17 PM
Lorin Browning Lorin Browning is offline
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The QuickBooks default for Budget reports is All income/expense accounts, which is what your report is showing. If you want balance sheets accounts in a budget report, they need to be added via the customization procedure.

Click on Customize Report
Select Filters
In the drop-down list under Account, select All accounts. You may have to scroll up the list to get to All accounts.
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Last edited by Lorin Browning; 10-25-2016 at 03:21 PM.
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  #3  
Old 10-25-2016, 05:16 PM
tvmangum tvmangum is offline
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Thanks for the suggestion!

What I ideally would have would be a report that would show income and expenses with QB ignoring whether the account is an income, expenses or liability account all on one page. Right now I am printing the monthly budget report that I put together and then take all that info to an Excel spreadsheet where I put in the info for the month, it calculates YTD and variance. The spreadsheet is set up to carry YTD balance from one month to the next so that the calculations are there. It works good but can be a pain.

My Board, while they are good to give their time, really doesn't know how to read a financial startement, hence the Excel spreadsheet. There should be an easy way to fix this problem.

If it would help I can e-mail the reports I get out of QB and Excel so you can see what I need/want.
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  #4  
Old 10-25-2016, 10:42 PM
Lorin Browning Lorin Browning is offline
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Don't e-mail. Just post here as attachments.

But I'm curious as to how you expect the board can understand your reports if you do not indicate what type of accounts are being presented.
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Last edited by Lorin Browning; 10-25-2016 at 10:46 PM.
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  #5  
Old 10-26-2016, 09:16 AM
tvmangum tvmangum is offline
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I am wanting all of the account types to be present on the report along with the types. What I was saying is that I wish QB would produce the report printing all the categories not just income/expense on one and liabilities/assets on the balance sheet. I want all of the info in one report.

I've attached a mock-up of what I want so you can see what I would like. (Sample.pdf). I've also attached a copy of the monthly statement I give to the Board (Sept.pdf). It's the Excel spreadsheet that calculates from month to month.

I realize that I am new to the QB arena and do not fully understand all of the ins and outs of accounting but I'm doing my best to get what I need and just don't understand why QB makes it so hard for non-accountants to get info back out. If I put it in I should be able to get it out without having to reinvent the wheel.

You all have been so good to answer my questions even the newbie questions and I appreciate it so much. This one report has got me frustrated. Am I making sense?
Attached Files
File Type: pdf Sample.pdf (55.8 KB, 6 views)
File Type: pdf Sept.pdf (68.9 KB, 2 views)
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  #6  
Old 10-27-2016, 10:07 AM
Lorin Browning Lorin Browning is offline
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First, my original answer has a fundamental mistake. I assumed that because the QuickBooks budget reports included a filter to include All accounts that the report would in fact include all accounts. My assumption was wrong. I’ve never had a client who wanted to use a balance sheet item in a QuickBooks budget report and, accordingly, had never checked out whether the All accounts filter would actually work in a QuickBooks budget report.

It appears that QuickBooks has “hard wired” its budget reports to include only income and expense accounts. If you Google “balance sheet items in QuickBooks budgets” you will find others with the same frustrations that you are facing.

Second, let me suggest a work-around for you that probably will give you what you want without involving one or more balance sheet accounts (the payables to state and national for dues received). I believe the following will work (all are income accounts):

100 Dues
  • 110 Local
  • 120 National
  • 130 State
All three are subaccounts of 100 Dues. Dues will be treated like a totaling account and you will never make an entry to account 100 Dues.
To accounts 120 National and 130 State, add two subaccounts: Received and Remitted so that your chart of accounts will now include:

100 Dues
110 Local
120 National
  • 122 Received
  • 124 Remitted
130 State
  • 132 Received
  • 134 Remitted
Notice that entries to 124 and 134 will both be debit entries to balance the credit entries to the Bank account when checks are written.

Notice also that since 120 and 130 are totaling accounts also, you will not make entries to either for them.

When you print your budget vs actual in QuickBooks, the totals for 120 National and 130 State will show the amount payable.

http://www.myaccountingcourse.com/ac...-balance-sheet is a typical presentation of the functions of income statement budgets and balance sheet budgets. But, alas, there is no way to get a balance sheet/budget report in QuickBooks. And there is no way to have QuickBooks automatically calculated Net Restricted Assets in the Equity Section of the Statement of Financial Condition, or have QuickBooks report the Changes in Net Assets in the Statement of Activities, although one can change the titles of those reports.
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Last edited by Lorin Browning; 11-22-2016 at 08:13 AM.
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  #7  
Old 10-27-2016, 10:45 AM
tvmangum tvmangum is offline
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Thanks for the input. I had never thought about creating the subaccounts to show the info on the budget summary report. It was so simple I overlooked it. If I'm reading your info correctly, I can do it this way and not have to worry about setting up the liability accounts in the COA. I will just know that it is a liability account.

So glad I found this forum where I can ask my newbie questions and not be looked down on by other users!
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