Solved: How to Assign Class to Ledger Account

cpa_chang · ‎January 31, 2022

Using QBEnterprise 2022 for Non-profits.

Client wants to use class tracking for fund accounting purposes.

In Preferences, we opt to Assign class to ACCOUNTS.

Setup three classes "Operational", "Capital Assets, and "Endowment" in the Class list.

In Chart of Accounts (herein, "COA"), we added one of these three classes to all Income and Expense accounts.

When I enter a journal entry amount to one of the income and expense accounts, then run a Profit & Loss by Class report, the journal entry I created doesn't get classed. The amount I entered shows up under Unclassified column.

What's the purpose of assigning classes at the Account level then? The only way I can see a transaction by class report is to class at the transaction level. You have to do that even if you have the Assign to ACCOUNTS feature clicked on or off. Seems like the Assign to ACCOUNTS class feature does not serve any purpose. I thought by Assigning a class to an Account, it would override any transactions (that have no class, or is classed to a different class) booked to that account. For instance, if General Revenue account was assigned a "Operational" class in the COA and then if someone books an invoice with a transaction line using the "Endowment" class to this General Account, the Profit & Loss by Class report will show that transaction in the Operational Class column (meaning that assigning a class at the Account level will override any transactions classed differently to the same GL account).

What am I missing here? How do we use the Assign to Accounts class feature?

AlcaeusF · ‎January 31, 2022

Hello @cpa_chang,

It seems like you've posted twice in this forum. My colleague has already shared a resolution regarding your concern. Please check out this link for your reference: https://quickbooks.intuit.com/learn-support/en-us/other-questions/re-assigning-classes-to-general-le....

If you still have other questions, please let us know anytime. The Community is always here to help. Keep safe.

sheinz · ‎August 23, 2022

Is it possible to assign the same Class to every line in a single journal entry without copying and paste each individual line?

Rea_M · ‎August 23, 2022

Hello there, @sheinz.

I'll share a few insights about assigning classes to every line in a journal entry and guide you in sending product recommendations in QuickBooks Desktop (QBDT).

For the time being, the option to assign the same class to every line in a journal entry is impossible in QBDT. You'll have to manually select the same class or copy and paste the info to each line under the Class column.

On the other hand, I can see how the benefit of being able to assign the same class to every line in a journal entry without copying and pasting the info on each individual line would aid you in managing your transactions with QBDT. With this, I would encourage you to send suggestions or product recommendations. We'll take them as opportunities to improve the various features of our products.

Your valuable feedback will be forwarded and reviewed by our Product Development team to help improve your experience while using the program. Here's how:

Go to the Help menu.
Choose Send Feedback Online.
Click on Product Suggestion.
Click on the drop-down for Type of Feedback and select Product Suggestion.
Select the Product Area.
Then enter your thoughts and suggestions.
Once done, select Send Feedback.

Also, you may want to check out this article as your reference to guide you in generating reports to compare the balances across multiple classes, departments, or locations using QBDT: Filter, sort or total reports by Class.

Let me know if you have other feature concerns or questions about creating journal entries and managing transactions in QBDT. I'll gladly help. Take care, and I wish you continued success, @sheinz.

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