how can we track specific event income & expenses without creating another class? the event has multiple customers and vendors so the project function does not work

You're absolutely right, Jamie.

Projects are typically tied to a single customer, which makes them unsuitable for events involving multiple customers and vendors.

As an alternative, I recommend creating dedicated income and expense accounts specifically for the event.

To create an income account, follow these steps:

1. Go to the Gear icon at the top, then select Chart of accounts.
2. Click the New account button.
3. Enter the income account for the Account name.
4. Select an income for the Account type, and then choose the Detail type from the dropdowns.
5. (Optional) Add a Description to add extra information about this account. 
6. Select Save. 

To create an expense account, here's how:

1. Go to the Gear icon at the top, then select Chart of accounts.
2. Click the New account button.
3. Enter the income account for the Account name.
4. Select an expense for the Account type, and then choose the Detail type from the dropdowns.
5. (Optional) Add a Description to add extra information about this account. 
6. Select Save. 

Once you've created these accounts, use them to track all transactions related to the event, regardless of the customers or vendors involved. This method keeps event tracking organized while allowing you to manage invoicing and bills as usual with customers and vendors.

If you have further questions, feel free to comment below. We're here to help.

Hi Mirriam,

Thanks for your reply. However, the problem for us is that we run multiple seminars and events, and we do not want to create a new GL account or Class for each specific event. Is there any way to track without doing so? Custom fields seem to work but it's not possible to generate a P&L using that custom field. We want to be able to use Quickbooks to track income & expenses for each event/program instead of manually using our spreadsheets. 

Hello there, Jamie.

Thank you for getting back with an update. Allow me to provide you with additional assistance to track income & expenses for each event.

Since you've mentioned that the Custom field works fine on your end but you're unable to generate a Profit & Loss (P&L) report, I recommend pulling up a Transaction Detail by Account report instead.

Through this report, we can filter the income and expenses accounts and group them by the custom field you created, generating a report similar to a P&L.

Here’s how:

1. Navigate to Reports and select Standard Reports.
2. In the Type report name here field, enter Transaction Detail by Account.
3. Click Customise and filter by Distribution account type, selecting All Income/Expense Accounts.
4. Scroll down to Groups and choose Group by Custom Field.
5. Adjust the Report Period to show the relevant transactions.

Don't hesitate to always ask for help in the forum if you need anything else. 

Hi Jovelyn,

Thank you for the quick response and details for the workaround, it's very helpful. I also wonder if you have a better suggestion to track event income & expenses other than using Custom Field? This is because Custom Field cannot be applied to manual journals, which is a huge limitation when we need to make adjustments.

Hello, Jamie.

Thank you for following up with me about this topic. I'd like to share some of my suggestions for tracking income and expenses by event in QuickBooks Online.

To start, Location Tracking is perfect to categorize transactions to an event. To use this you need to turn on this feature. Here's how:

1. Navigate to the Gear icon and click Account and settings.
2. Select the Advanced.
3. From the Categories tab, click Edit to turn on the Track locations.
4. Click Save, then Done.

Next, create Location for each event. Please follow the steps below:

1. Go to the Gear icon and select All Lists.
2. Choose the Locations and click New.
3. Enter the event name you prefer (e.g., "Spring Gala 2025)
4. Click Save or repeat the steps for each event.

Once your Location are set up, you can apply them to individual transactions.

• For income transactions (invoices, sales receipts): Open the transaction and select the Location dropdown (appears in the header or on each line, depending on your settings).
  
• For expenses (bills, checks, expenses): Select the Location field on each line item or in the header.
  
• For the Journal Entry: Click + New and select Journal Entry. In the Location line, click the dropdown.
  

Alternatively, you can also use the Memo/Description to track your event. Then, you can follow my colleague's @Jovelyn_M suggestion on pulling up the Transaction Detail by Account. 

If you require further assistance, please don't hesitate to contact the Community team again. We're always here to help!