Contact us on the button below to book a training session or for more information.
How to Set up Class tracking and Location tracking in Quickbooks
Classes is how Quickbooks can show you separate accounts for different areas of your business such as Departments, Branches or Cost Centres.
To expand your accounting to beyond standard account-based tracking in QuickBooks this will enable you to easily see the profit and loss in the different areas known as classes.
In QuickBooks, you can create classes that you assign to transactions. This lets you track account balances by department, business office or location, separate properties you own, or any other meaningful breakdown of your business.
Many business owners have certain segments of their business that they want to keep a close eye on; by using the class tracking feature, you can define these segments and track their associated account balances on invoices, bills, and other documents.
Businesses with different departments or locations can use classes to report account balances for each department.
For example, if you had a shop with three locations, you might create anLondon a Brighton and a Dublin class for tracking account balances by location. the shop could create separate reports for each location.
Class tracking takes a few minutes to set up . It is a really useful feature to get an excellent overview of your company expenses and can show you how your money is being spent. With this information, it’s much easier to stay on top of your budget
In Quickbooks online plus there is also the option to use Locations. To turn the feature on.
Go to the Settings cog,> Accounts and Settings > Advanced > Tick the box marked Use Class Tracking. , click save and then done.
To expand your accounting to beyond standard account-based tracking in QuickBooks this will enable you to easily see the profit and loss in the different areas known as classes.
In QuickBooks, you can create classes that you assign to transactions. This lets you track account balances by department, business office or location, separate properties you own, or any other meaningful breakdown of your business.
Many business owners have certain segments of their business that they want to keep a close eye on; by using the class tracking feature, you can define these segments and track their associated account balances on invoices, bills, and other documents.
Businesses with different departments or locations can use classes to report account balances for each department.
For example, if you had a shop with three locations, you might create anLondon a Brighton and a Dublin class for tracking account balances by location. the shop could create separate reports for each location.
Class tracking takes a few minutes to set up . It is a really useful feature to get an excellent overview of your company expenses and can show you how your money is being spent. With this information, it’s much easier to stay on top of your budget
In Quickbooks online plus there is also the option to use Locations. To turn the feature on.
Go to the Settings cog,> Accounts and Settings > Advanced > Tick the box marked Use Class Tracking. , click save and then done.
Contact us on the button below to book a training session or for more information.
Allocate each Transaction to a class
You will see there is now an extra field on each Invoice, Bill, Cheque etc you enter. Simply enter the transaction to the relevant class. You can then produce Profit and Loss Reports for individual or several classes.
Contact us on the button below to book a training session or for more information.
Reports for Quickbooks classes and locations
To produce reports by class then go to Reports left hand menu> standard> select the profit and loss by class report.
If you would like to find out more about Quickbooks software contact us for prices on our Quickbooks Training Courses one to one personal training to suit your requirements.
Contact us on the button below to book a training session or for more information.
Example of Report of Profit and Loss by Class
Below you can see an example of a profit and loss report which has been split by class, a similar report could be produced by location.
Contact us on the button below to book a training session or for more information.