If you use classes to track funds, use this method to see a report on your
fund balances at any time.
Note: You can rename the report, but QuickBooks may not give you the
exact format you need for government reporting purposes. You can, however, use
the information in this report to fill out forms specific to your type of
To do this task
Make sure that:
All paychecks and liability checks have been assigned a class.
All payroll liabilities have been paid.
All transactions except A/R payment receipt deposits have been assigned a class.
Go to the Reports menu and click Custom Summary Report.
On the Display tab of the Modify Report window, specify the data that you want the report to
Click the Dates drop-down list and choose All to get the correct balances (even if
you want to see the balances for only the current month).
For Report Basis, select Cash.
Click the Display Columns by drop-down list and choose Total Only.
Click the Display Rows by drop-down list and choose Class.
Click the Filters tab and filter the report to show fund balances.
Select Account from the Filter scroll box. Click the Account drop-down list and choose Multiple accounts. Select all accounts except checking and Accounts Receivable, and
Select Class from the Filter scroll box. Click the Class drop-down list, choose Multiple classes, select all of your funds, and then click OK.
(Optional) On the Header/Footer page, type the title of your report.
The report displays balances for each of your funds. The total should equal
the amount you have in the bank.
Type Fund Balances in the Name field.
Go to the Reports menu, choose Memorized Reports, choose Nonprofit, and then click Statement of Financial Position.
Add up the totals for all your liquid assets.
Liquid assets include assets such as checking, money market, and savings
Ensure that the total of all your liquid assets equals the totals of your
funds, including your general fund.
In some cases, you may also have non–liquid assets (such as property,
donated vehicles, or investments) dedicated to certain funds. You should
account for these assets when calculating the total value of funds.
If the two figures don’t match, correct the discrepancies.
To find errors, you can create a transaction detail report:
Go to the Reports menu, choose Accountant & Taxes, and then click
Transaction List by Date.
Click the Dates drop-down list and choose All. All transactions for each fund are
displayed. You can double-click any transaction in the report to display it and
to make corrections.