In Xero, I am wanting to produce a Balance Sheet that splits out the organisation across tracking categories which are used to track how funds are restricted in a charity.
The problem is that there is a balance in tracking transfers and also there is a balance in a second line showing for the bank account. The report is run using a customised balance sheet template, designed to split out the fund restrictions as mentioned above.
I know exactly why the balances have arisen - because of the journals posted to split out the restrictions when entering the opening balances at the beginning of the first year of using Xero. And I know why they appear as they do. However, in reporting terms, in the context of what the client will understand, these balances are meaningless, so I need to make sense of them by moving the figures around in the balance sheet, essentially by showing them as being owed to or from the bank account.
I can achieve this by exporting to XL and adjusting the figures manually. However, this is a faff, and I would like to be able to achieve actually doing this within Xero.
Has anyone else encountered this issue (I can’t believe you haven’t), and what do you do to resolve it?