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afwright
Level 1

How to Assign Class to Ledger Account

There is a setting in Company Preferences / Accounting that allows Classes to be assigned to accounts. Creating new accounts, however, I can't see the option to assign a class when creating a new account in the ledger. 

Solved
Best answer June 24, 2020

Best Answers
Mark_R
QuickBooks Team

How to Assign Class to Ledger Account

Hi there, @afwright.

 

The Class Tracking feature only allows you to assign classes into income and expense accounts. Thus, assigning to assets and liabilities accounts isn't available.

 

Here's how you can assign classes to income or expense accounts:

 

  1. Go to the List menu, then select Chart of Accounts.
  2. In the Account drop-down, click New.
  3. Select the income or expense account type, then click Continue.
  4. Enter the information and choose the Class from the drop-down.
  5. Click Save & Close.1.PNG

I'm adding this article for more details: Set up and use class tracking in QuickBooks Desktop.

 

Just in case you want to run reports by class, feel free to check out this article for more guidance: Filter, sort, or total reports by Class.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I've got your back. Have a good day and stay safe.

View solution in original post

14 Comments
Mark_R
QuickBooks Team

How to Assign Class to Ledger Account

Hi there, @afwright.

 

The Class Tracking feature only allows you to assign classes into income and expense accounts. Thus, assigning to assets and liabilities accounts isn't available.

 

Here's how you can assign classes to income or expense accounts:

 

  1. Go to the List menu, then select Chart of Accounts.
  2. In the Account drop-down, click New.
  3. Select the income or expense account type, then click Continue.
  4. Enter the information and choose the Class from the drop-down.
  5. Click Save & Close.1.PNG

I'm adding this article for more details: Set up and use class tracking in QuickBooks Desktop.

 

Just in case you want to run reports by class, feel free to check out this article for more guidance: Filter, sort, or total reports by Class.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I've got your back. Have a good day and stay safe.

View solution in original post

InterlakenGolf
Level 1

How to Assign Class to Ledger Account

I can't get a class assigned to my current chart of accounts. i have my preferences set correctly. there should be a drop down where the red circle is. help!!!!!

ReymondO
QuickBooks Team

How to Assign Class to Ledger Account

Thanks for joining this thread and providing an additional screenshot, @InterlakenGolf.

 

It could be that the class tracking feature wasn't turned on yet or assigned to your accounts. This is why you're unable to see the Class drop-down list.

You can check this out by following these steps:

 

  1. Go to the Edit menu and select Preferences.
  2. In the Accounting section, click Company Preferences
  3. Make sure that the Use class tracking for transactions and Assign classes to boxes are checked. class.PNG
  4. Click OK.

 

Once done, go back again to the Chart of Accounts and add the class to your account. You can follow the steps provided by my colleague above.

 

If you're still getting the same issue, you can update QuickBooks Desktop (QBDT) to its latest release. Doing this can help you clear minor issues in your company file. 

 

You can also run the Verify and Rebuild Data tools in QBDT to identify its cause and fix it.

 

Our doors are always open to help you with any QuickBooks-related concern. All you have to do is click the Reply button and enter your concerns. Take care, and have a great day.

East Regiment Beer Co
Level 2

How to Assign Class to Ledger Account

QB pro 2019 does not have this option

East Regiment Beer Co
Level 2

How to Assign Class to Ledger Account

I run quickbooks pro 2019 and do not have these options

ReyJohn_D
Moderator

How to Assign Class to Ledger Account

Yes, you're right, @East Regiment Beer Co.

 

As of now, the option to assign classes to your expense and income accounts is only available in QuickBooks Enterprise. For more info about it, please check out this article: Set up and use class tracking in QuickBooks Desktop.

 

I'll share some steps to get around this. First, you can use the Class column instead and then select the right income or expense account when creating transactions like invoices, bills, etc. This way, you can link the correct class to its corresponding account properly. 

 

To achieve this, we can perform a few tweaks on the Preferences page. Let me guide you how:

 

  1. Go to Edit, and then select Preferences.
  2. Choose Accounting, and then select the Company Preferences tab.
  3. Navigate through the Class section, and then make sure to check the Use class tracking for transactions and Prompt to assign classes boxes.
  4. Click OK to save the changes.

Second, you can add the class name on the account's Description field. You can also set a class if it's a sub-account.

 

Here's how to do it:

 

  1. Go to Lists, and then Chart of Accounts.
  2. Select New from the Account drop-down.
  3. Choose Income or Expense as the account type.
  4. Indicate the class name on the Description field. You can also use the Subaccount of if the account is a sub-account.
  5. Click Save and Close when you're ready.

To keep track of them, you can run and customize class-related reports in QuickBooks Desktop. For more details, please review this article: Filter, sort, or total reports by Class.

 

In case you'll want to upgrade your QuickBooks subscription, please see this handy article for the steps: Upgrade to QuickBooks Enterprise from Pro/Premier.

 

Lastly, I recommend visiting our Firm of the Future site to get you in the loop about the latest news and product enhancements.

 

You can count on me if you some follow-up questions about this. I'll be around to help.

rsheikh
Level 1

How to Assign Class to Ledger Account

Can I assign class to an account that has already been set-up? I will be importing Chart of Accounts into QBs so how do I assign class to each account in this scenario?

LieraMarie_A
QuickBooks Team

How to Assign Class to Ledger Account

Hi there, @CurtisStevens. I have all the steps you'll need in assigning a class to old accounts in QuickBooks Desktop. 

 

You can edit your accounts and assign classes to each. Take note that you can only assign classes to income and expense accounts.

 

Here's how:

  1. Go to Lists at the top menu, then select Chart of Accounts.
  2. Right-click the account that you want to edit.
  3. Select Edit Account.
    Capture.PNG
  4. Select a class from the drop-down list.
  5. Select Save & Close.

 

These steps are available from our guide on managing accounts in QuickBooks Desktop.

 

You can also check out this article about importing data in QuickBooks Desktop: Import and export data in QuickBooks Desktop.

 

Please let me know should you need further assistance. I'm always available here to help. 

rsheikh
Level 1

How to Assign Class to Ledger Account

Thank you for your response.

CuBeNewbie
Level 1

How to Assign Class to Ledger Account

This option is not available on QB Desktop for Mac 2019.  Is there another option for me to assign classes to accounts?

AlexV
QuickBooks Team

How to Assign Class to Ledger Account

Thanks for joining this thread, CuBeNewbie.

 

I understand that you also want to add classes to your accounts in QuickBooks Desktop for Mac. While this isn't available, you'll want to set up and use class tracking in transactions instead.

 

You can check our blog if there are newly added features in QuickBooks.

 

If you need a report, here's how to filter, sort, or total reports by class.

 

Comment again if you have more questions. I'll be here!

CuBeNewbie
Level 1

How to Assign Class to Ledger Account

Copy and thanks!

2rsdigital
Level 1

How to Assign Class to Ledger Account

I'm using Desktop 2020 Pro and do not see class drop down within the account edit section. Is there another way to class all items within a bank or credit card?

ChristieAnn
QuickBooks Team

How to Assign Class to Ledger Account

Hi there, 2rsdigital.

 

Welcome to QuickBooks Community. I'll provide different troubleshooting steps to ensure you're able to see the class drop-down within the account edit section.

 

As shared above, the Class Tracking feature only allows you to assign classes into income and expense accounts. Assigning to assets and liability accounts is currently unavailable. With this, if the accounts you're trying to add classes are income and expense and you're unable to see the class drop-down within the account edit section, I recommend running the Verify/Rebuild tool. This helps identify the most commonly known data issues within the file and resolves it. Before you begin with the troubleshooting, you'll have to secure a backup of your company file. Then. follow the steps below.

 

Here’s how to verify:

 

  1. Go to the File menu.
  2. Select Utilities.
  3. Click Verify Data then select OK to close all windows.

To rebuild:

 

  1. Go to the File menu.
  2. Select Utilities.
  3. QuickBooks will ask to make a backup before rebuilding your company file, select OK.
  4. Once the rebuild is done, click OK.

 

For more details, you can check out this article for reference: Verify and rebuild data in QuickBooks Desktop.

 

If the issue persists, I suggest resorting the Chart of accounts. This way, the lists will go back to their default order. If you have manually edited the order of your list, re-sorting will undo these changes.

 

Here's how:

 

  1. From the Lists menu, select Chart of Accounts.
  2. Go to the Account drop-down arrow at the bottom.
  3. Choose Resort List.
  4. You'll be prompted with Are you sure you want to return this list to its original order? Click OK to confirm.

resort.JPG

 

For additional information, you can refer to this article: Re-sort lists in QuickBooks Desktop. This also provides steps on how you can re-sort the master name list in QuickBooks.

 

On the other hand, there's no other way to class all items within a bank or credit card in QuickBooks Desktop aside from the steps shared above.

 

Please refer to this article to see different information on how to track account balances using different classes in QuickBooks Desktop and how it works in the system: Set up and use class tracking in QuickBooks Desktop.

 

Please let me know how it goes and if you have any follow-up questions, leave a comment below. I'm always here to help. Thanks for reaching out, I look forward to hearing from you in the near future.

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