Kymm - Thanks for asking. Although there is not a report quite like this in v10 I have added your name to the list of people requesting it. The more requests we get the sooner it is likely to happen.
For now I'd suggest the Standard Customer Statement
which you can print or email. See Email Statements
Also, if you have parents checking their children in/out you can choose to have the balance displayed on the check in screen. See this thread on how to Display Balance at Check In
Or if you have Tuition Express parents can check their balance and even make payments online (new feature!).