Read this full article and learn why does your balance sheet by class report have unclassified amounts and what process you need to perform to tackle such situations.
Balance Sheet by Class in QuickBooks Desktop allows you to check your balance sheet by fund, location, or other categories set up as classes. If you see amounts in Unclassified column, that basically indicates that there are some transactions for which correct classes were not identified by QuickBooks. In this article, we will be assisting you about what can be done when you find yourself in such scenarios.
Transaction Has No Class
Usually, the issue occurs when the class is missing for a transaction. You need to check if the unclassified amount is due to the no class for a transaction. If yes, you need to add a class to the transaction and the issue will be resolved.
Assign a class
- Run the Balance Sheet by Class and from the Unclassified column, double-click on the amount.
- Now, double-click on the transaction which is mentioned in the unclassified from the Transactions by Account report.
- Locate the Class field on the transaction.
- Set a class and click on Save & Class.
Note: If you don’t find any field to add a class, it means that classifying the transaction is not supported by QuickBooks. The next section will tell you why this is happening.
There’s no field to add a class or no prior transaction in the workflow
The first transaction is used by QuickBooks in a workflow to classify amounts of coming transactions. This is also a reason when you were not able to add class to few transactions such as customer payment and bill payment.
As an example, let’s take a look at the invoicing workflow.
QuickBooks uses the class added by you on an invoice in order to classify customer payment and deposit. So, while entering a payment without invoice, QuickBooks won’t be able to classify the payment and deposit amounts. It is displayed as unclassified on Balance Sheet by Class report.
What you should do
This issue can be resolved by yourself. Once the pre-payment is applied to an invoice, QuickBooks will classify the payment amount appropriately. Majority of the transaction workflow are processed in this way in QuickBooks Desktop.
The Balance Sheet by Class report doesn’t support the transaction
Some transactions might not be classified by Balance Sheet by Class report in QuickBooks Desktop. Some of those transactions create unclassified amounts on the report.
Technical Support For QuickBooks Desktop
The provided solutions should be helpful for you in situations when your balance sheet by class have unclassified amounts and you should be able to resolve such issues. However, there can be situations, when you couldn’t resolve these issues because the transactions to which you are assigning class are damaged. In such situations, you need to fix damaged transactions in QuickBooks, or you can dial our toll-free QuickBooks Support Phone Number +1850-308-2863 to get instant support for QuickBooks issues.