Opening and closing balances

I am helping someone to formalise the accounting for a charity organisation. They get donations from various sources (deposited into one bank account) which are then either nominated (or allocated) to specific projects. Each of these projects has it’s own virtual “account”, and each month they need to see income and expenses for each of these projects. This is easily done by using tracking codes and the P&L report for any given period. (See 2 screen shots: top and bottom half of report)

The P&L report is perfect, except that there are no opening and closing balances for each “account” for the period.

Can anyone advise on how to do this? Should we create separate “Cash Accounts” for each project under a control account? If each project needs to be reported individually, it is also fine, but individual transactions are not to be shown. Is there a report that would give the same info as above, but with opening and closing balances for the specified period?

Firstly, within any P&L report you never get opening and closing balances, and what purpose would they serve. If you are looking at a report for April (based on your screen shot) the actual April figures wont change. How does having an opening balance of 100 or 1500 for a particular account make any difference to the report.

For a particular project you could do a P&L month by month comparative report to see progression over a period and that report doesn’t have to be financial year based.

This report type could only occur with a cash flow style report, and Manger currently doesn’t have a cash flow report.

The “Cash Summary” report shows very near to what is needed here. Is there any chance of including tracking codes in this report?

Tracking Codes only relate to the P&L and not to the BS.