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Balance Sheet by Class

How to Create a Balance Sheet by Class in QuickBooks Online

A Balance Sheet by class breaks your assets, liabilities, and equity into a column per class. It's useful for tracking separate funds, programs, or business lines, but only accounts you've tagged with a class will populate, so expect it to be sparser than a Profit and Loss by class.

New to QuickBooks Online's modern view? See how it compares to the classic view.

Steps

  1. Turn on class tracking

    Class tracking must be on first. Go to Settings (gear icon) → Account and settings → Advanced → Categories, and turn on "Track classes." Class tracking requires QuickBooks Online Plus or Advanced.

    QuickBooks Online Account and settings with Track classes turned on
  2. Open the Balance Sheet report

    Go to Reports and, under Business overview, select "Balance Sheet," then set your as-of date.

    QuickBooks Online Standard reports list with the Balance Sheet report
  3. Set "Display columns by" to Class

    Open the "Display columns by" dropdown and choose Class. QuickBooks adds a column per class, plus a column for amounts with no class assigned.

    QuickBooks Online Display columns by dropdown open on the Balance Sheet showing the Class option
  4. Review the class columns

    Only balances on transactions tagged with a class appear in that class's column, typically inventory, equity, or fund accounts. Bank, A/R, and A/P balances that were never class-tagged fall into the unassigned column or stay blank, which is why a Balance Sheet by class is usually far sparser than a P&L by class.

    QuickBooks Online Balance Sheet split into columns by class

See also

Filter a Balance Sheet by customer type in Google Sheets

Frequently asked questions

Why is my Balance Sheet by class mostly empty?

Because balance-sheet accounts only carry a class when the underlying transaction was tagged with one. Many everyday postings to bank, A/R, and A/P accounts aren't class-tagged, so those balances show under the unassigned column rather than a specific class.

Does this require a specific QuickBooks plan?

Yes. Class tracking is available on QuickBooks Online Plus and Advanced.

Tired of rebuilding reports? Need more customization?

Retriever pulls QuickBooks Online reports like this one into Google Sheets on a schedule. They refresh on their own, and once the data is in Sheets you can pivot, chart, and customize it far beyond QuickBooks' fixed report layouts.

See how Retriever works

Related report guides

Balance Sheet Balance Sheet ComparisonBalance Sheet by MonthBalance Sheet by QuarterBalance Sheet by LocationBalance Sheet by CustomerClassic vs Modern View Reporting

Questions about this report? Reach out at aubrey@retrieverhq.com.