Help - Classes or Projects? Need ONE file to manage bookkeeping with separate reporting for different small ventures and shared property management with siblings. Ideas?

Hi michele6, 

Welcome back to the Community. QuickBooks is the go-to program for business owners that are looking to streamline their work using the powerful features offered in QuickBooks. I'll be glad to share more information so you can continue to manage your work with peace of mind. 

Knowing if you should use Classes or Projects is crucial as that helps you organize your company info. Classes are a great tool as they're commonly used to divide parts of your business into departments or segments. I encourage you to learn more about Classes using the info provided in this helpful article here. 

The Projects feature is great for tracking a project's profitability. This feature also allows you to add project income, expenses, and labour expenses, add old transactions to new projects, and run project-specific reports from a single dashboard. I encourage you to learn more about this features by checking out this article. 

Based on the info above, I recommend making a decision based on what would be best for your business. I'll also leave this question open so other Community members can share their expertise. In the meantime, feel free to ask other questions in the comments below. I'm here to help you achieve your QuickBooks goals. 

Thank you for the explanation, but I was hoping someone might be able to comment on my specific problem. As I would like to do both divide activities into several segments and track profitability I am wondering whether classes OR projects would be better to use...