I have just setup a new corporation, and operate 5 dba's under the corporation.
These dba's are reflective of 5 different events/projects that we produce. I want the ability to record transactions, and track profit and loss for each event/project separately, but under the one main account to have an overall view of the business.
Is there a way to do this in Quickbooks under the main corporate account without setting up separate Quickbooks accounts for each project? I want the ability to see how profitable each event/project is for evaluation and funding purposes.
I have setup separate bank accounts for each dba.
I hope this makes sense.
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I currently run several company files for multiple LLCs that have rental homes. Right now income and expenses are classed by unit. Can I have another class for the LLC so I don’t have so many company files?
Hi there, shoutstudio.
Thanks for your getting back to us. Allow me to help and provide some additional information about Class in QuickBooks Online (QBO).
To answer your question, Yes. You can use the separate bank accounts to each classes. I also suggest when you set up classes use the same name for each bank account so it'll easily identify the correct one when creating transactions.
For additional reference, you can check this article to learn more about Class feature in QuickBooks Online: Using Classes and Locations in QuickBooks Online.
Please know that I'm just a post away if you have any other questions about Class. Wishing you and your business continued success.
Thanks for joining this thread.
Class feature help you to track different departments, across states or in a different properties. It is recommended to set up different company files for every business entity, to avoid any discrepancy on your books .
You may also consult an accountant to check other option and to ensure your books are accurate.
To learn more about Class feature, you can check the article on my first post above.
Please know that you're always welcome to post here in QuickBooks Community if you have any other concerns. Have a good one.
If I have my separate dbas distinguishable by class in quickbooks, is there a way to have each dba's name appear on invoices sent to customers of that department, aka dba, aka class? Thanks.
Hi, hope it's ok to jump in with a related question. If I have my separate dbas distinguishable by class in quickbooks, is there a way to have the different dbas' name appear on invoices sent to customers of that department, aka dba, aka class? Thanks.
For now, classes or DBA names can't be visible on the invoice sent to your customers.
I suggest sending us your feedback. Just click on the Gear icon at the top right corner and then select Feedback.
However, here's a workaround on how you can manually enter DBA names as class to appear on the invoice:
Then, let’s create a dummy invoice to be sent to your own email to check the invoice display. Make sure to input the class name at the customized field.
For you to track the profit and loss report per class, select the class under the CLASS column.
Don't hesitate to reach out to us if you have other concerns. Have a good one!