Thanks @KhimG! I did go back and was reading through the articles you posted while looking at actual checks, bill payments, etc on my QBO. What you're saying makes sense as to HOW it operates, but it doesn't help me a whole lot :-/ ... It would be great to be able to classify an entire bank account for the purpose of running a filtered balance sheet. 

It would be a lot of additional work to add journal entries for every AR and AP transaction, not to mention, it defeats the simplicity of QBO to not be able to use the "Quick Deposit" function. Any chance software changes can be made to help reconcile this and make entering expenses and deposits just as easy, while also allowing an easier balance sheet report by class?

Again, thanks for your help today!