Balance Sheet Tracking Categories
Xero has tracking categories for Profit & Loss reporting.
Our single entity charity uses tracking categories to produce a profit and loss report by fund where the fund type is an option within a fund category.
We need the same for the balance sheet to produce a balance sheet report by fund on an ongoing basis.
For example, income and expenditure transactions on a bank account can be tracked, but not the bank account balance itself. Ditto for liability accounts etc.
This would also need a tracking option/field on manual journals.
Allan Revers
shared this idea
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David Spacey
commented
I'd very much support the need for Xero to provide a Balance Sheet split by tracking category / charitable fund.
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Laura Catlett
commented
I need this too. I have a parent-child subsidiary, but the sub is not wholly owned by the parent, so I need separate balance sheets, but they share the same bank account. Since Xero is driven by the bank reconciliation, not journal entries, I need to use one client company and utilize a tracking category for the sub, and the tracking options to track different P&L elements within each entity. What is the work around? I'm setting up these two companies, but when writing a manual journal entry to reclass conversion balances between the two entities, and it does not appear to be possible. I ran all this by the "expert" before I started, have an email with his instructions. He never told me the last step, the manual journal entry, isn't possible. Yes, Please. Tracking Categories need to have the ability to be used for the entire financials, not just P&L.