Using classes to track temp restricted and unrestricted assets, How do I generate SoIE and SoFP reports which show 'temp restricted assets released from restriction'?
I have followed Kathy Ivens' "Quickbooks for non-profits" guidelines regarding tracking temp-restricted vs. unrestricted net assets. However, I have run into a problem when it comes to generating useful reports. Basically, I can't find anywhere in the reports (namely the statement of I and E, and the statement of financial position) where it lists 'temp restricted assets released from restriction'. How do I do this? The SoIE shows net income in distinct classes of temp rest and unrestricted, but without showing temp rest assets released, the reports are not accurate.
I found an explanation which involves 2 general JEs for each deposit or invoice- one involving debiting and crediting the equity accounts (for the SoFP) and another for debiting and crediting income accounts (for the SoIE). The link for this explanation is here: http://www.judyjonescpa.com/images/Restricted_Funds_-_Using_QuickBooks.pdf
This seems like a huge amount of work, as I would have to do many JE's myself. Also, it doesn't seem straight-forward. Iven's explanation of tracking assets through classes is incomplete at best, and I am stuck half-way between trying to track with classes (which I can't get to generate proper reports because there is nowhere which describes release of temp restricted assets) and trying to track with sub-accounts, which (again) without proper explanation in Iven's book, is over my head. Any help would be greatly appreciated.
Thanks in advance,