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Level 2

Can "Class" be used to track programs (for expenses and income) along with net asset classifications (for balance sheet accounts)?

I am wondering if the "Class" function can be used to track the various program services (for the 990), but also be used to track the Net Asset classifications (Unrestricted vs. With Donor Restrictions) for income. Thanks.
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Best answer May 15, 2020

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QuickBooks Team

Can "Class" be used to track programs (for expenses and income) along with net asset classifications (for balance sheet accounts)?

Hello, cqhuynh.

 

You'll want to use classes to track your transactions by departments, product lines, or any other meaningful segments in your business. Let me provide you information about this.

 

When it's time to run reports, you can use this information to set a budget goal for each class. Please visit this article on how turn on the feature: Get Started With Class Tracking in QuickBooks Online.

 

Once done, you can run reports by class.

 

For future reference, you can also customize reports in QuickBooks Online to show online information that you need: Customize Reports In QuickBooks Online.

 

Please touch base with us if you need further assistance. We're always right here to help.

View solution in original post

1 Comment
Highlighted
QuickBooks Team

Can "Class" be used to track programs (for expenses and income) along with net asset classifications (for balance sheet accounts)?

Hello, cqhuynh.

 

You'll want to use classes to track your transactions by departments, product lines, or any other meaningful segments in your business. Let me provide you information about this.

 

When it's time to run reports, you can use this information to set a budget goal for each class. Please visit this article on how turn on the feature: Get Started With Class Tracking in QuickBooks Online.

 

Once done, you can run reports by class.

 

For future reference, you can also customize reports in QuickBooks Online to show online information that you need: Customize Reports In QuickBooks Online.

 

Please touch base with us if you need further assistance. We're always right here to help.

View solution in original post

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