One Account Details with Balances Reports

Hello ACCOUNTS advisors. A user is questioning the presence of the Starting Balance and Ending Balance figures included in Reports -> Details -> One Account Details and Balances and One Account Details and Running Balances, when you run them for income and expense accounts.

The problem is that those balances are the totals of all transactions over all years that you have been using the program, which makes a lot of sense (as being the current “balance”) for balance sheet accounts (assets, liabilities, and funds) but makes very little sense for income statement accounts (income and expenses).

The question is what exactly is the right fix, when running those reports for income statement accounts. (There will be no change for balance sheet accounts!)

One option (“Option 1”) is to just eliminate those lines for the balances entirely, when running for income statement accounts. For the Running Balances report, it would just start at $0. For the regular Balances report, it would just give a total for the selected time period at the bottom, instead of an ending balance.

Another option I considered (“Option 2”) is to have the opening balance be included, but it would just be the total in that account since the beginning of your fiscal year that includes the starting date for the report. (So if the start date was the start of a fiscal year, it would always be $0.) And the ending balance would be that starting balance plus the sum of all transactions for the dates included in the report. That makes some sense, but starts to make less sense if you run that report over a time period that includes parts of 2 or more fiscal years.

Which of these two options do you prefer?

The other problem of removing balances from these reports is that the reports’ names are then somewhat inaccurate, when run for income statement accounts, since the names say “with Balances” but we may have removed those balances! Any thoughts? Of course the report description in the Help, and in the Report Browser, could explain those differences.

Thank you in advance for your feedback.

3 thoughts on “One Account Details with Balances Reports

  1. I would pick option 1. If someone wants the full fiscal year to date, they can specify that and the starting balance will be zero and the ending will be the current account balance. Similarly, if they want some other time span (either less than or more than the year) they will get all the relevant transactions and a total thereof.

  2. I would also pick option 1. We use the one account details for checking on budgets or specific expenditures for various committees for the current year. If these reports are shared with other people, it is quite confusing for them.

Comments are closed.