Using a class for revenue

jim1douglas · ‎October 16, 2023

Hi,

I do the books for a small non-profit organization. We have three major program areas (education, administration, special projects). I've created classes for each of those. I have a couple of categories for revenue, but I need a class for the transactions for donations we receive. I don't want to use one of the program classes because the donations are not associated with any particular program. Can/should I set up a "revenue" class? Or is there a better way to set it up?

MarkAngeloG · ‎October 16, 2023

I appreciate you reaching out here in the Community, @jim1douglas. I can see that you want to use class assignation for your donation transactions. You are already on the right path to creating a revenue class. I'd recommend naming the class as Non-profit revenue. You can also use tags for specific transactions with different products/services.

Here's how:

Select +New and create a pledge.
Select the Manage Tags.
Select Create Tag.
Name your Tag and choose a group if necessary.
Select Save.
Enter the tag name in the Tags field.
Fill in the products/services, and you can also select the Non-profit revenue class.
Fill in the necessary details in your transaction and select Save.

If you'd like to create an account type to track funds you receive from donors, refer to this article: Track funds you receive from donors in QuickBooks Online.

I would be pleased to assist you if you have any other questions or concerns about QuickBooks Online. Have a great day!

View solution in original post

MarkAngeloG · ‎October 16, 2023

I appreciate you reaching out here in the Community, @jim1douglas. I can see that you want to use class assignation for your donation transactions. You are already on the right path to creating a revenue class. I'd recommend naming the class as Non-profit revenue. You can also use tags for specific transactions with different products/services.

Here's how:

Select +New and create a pledge.
Select the Manage Tags.
Select Create Tag.
Name your Tag and choose a group if necessary.
Select Save.
Enter the tag name in the Tags field.
Fill in the products/services, and you can also select the Non-profit revenue class.
Fill in the necessary details in your transaction and select Save.

If you'd like to create an account type to track funds you receive from donors, refer to this article: Track funds you receive from donors in QuickBooks Online.

I would be pleased to assist you if you have any other questions or concerns about QuickBooks Online. Have a great day!

jim1douglas · ‎October 17, 2023

Thanks for this. Good to know I'm on the right track.

I have a couple of follow up questions related to reports for classes.

1) I'd like to generate an "activity" report for each of the classes. The standard report has a "revenue" line at the top and then shows "net revenue" at the bottom. This is confusing to my team. Since we are using a separate class for all revenue I'd like to just show expenditures for classes. Is there a way to customize the report so that the "revenue" and "net revenue" rows do not show? Or perhaps there's a different, more appropriate report to use?

2) In a couple of cases we use sub-classes to internally track some of our expenses. However, I want to produce a report that just shows the classes, not the sub-classes. How can I do that? When I try to filter by choosing classes but not subclasses all the subclasses show anyway.

Thanks for any pointers!

Jelayca V · ‎October 17, 2023

Hello there, @jim1douglas.

Thank you for getting in touch with us. I understand that you want to customize the Profit and Loss report by removing the "revenue" and "net revenue" rows. To help you with that, here are the steps you need to follow:

1. Go to the "Reports" tab.
2. Select the "Profit and Loss" report.
3. Click on the "Customize" button.
4. In the "Filter" section, choose "Distribution Account".
5. Run report.

Regarding your second question, I understand that you want to create a report that shows only the classes, not the sub-classes. I also tried to replicate the issue and got the same results as you did. In this case, I suggest that you export your reports to Excel so that you can manually exclude the sub-classes and only show the classes you want.

For future reference, here are some helpful articles on running and customizing class reports in QuickBooks Online:

Please let us know if you have any further questions related to reports or any other QuickBooks-related issues. The Community is always available to help. Have a great day!

jim1douglas · ‎October 18, 2023

Thanks for the response. However, I'm not getting the desired result for my first issue/question. First, I don't see a "profit and loss" report. I see one by "tag group." Is that the same? Using the "tag group" report I tried filtering by Distribution Account, selecting all expenditure accounts. I still got a report that includes Revenue at the top and "net revenue" at the bottom.

Kevin_C · ‎October 18, 2023

Thanks for getting back in this thread, Jim. Let me clarify a few things for you about the reports in QuickBooks Online (QBO).

The Profit and Loss report is the same as the Statement of Activity report for a non-profit organization company in QBO. Currently, we cannot modify the Revenue and Net Revenue of the Statement of Activity Reports by Class inside the QBO program as it is set as default sections. Also, there's no integrated way to run a report by a parent class only.

In the meantime, we can export the report to Excel and change the Revenue field to avoid confusion with your data.

While this option isn't possible, sending a feature request to our Product Development Team would be a great way to help improve your experience. They can review your suggestions and make some adjustments in the next update. Here's how:

Go to the Gear icon at the top.
Select Feedback.
Type in your feedback and product suggestions.
Click Next to submit them.

You may also visit this article to learn more about tailoring your reports, displaying particular accounts or customers, and configuring the layout for precise data placement: Customize reports in QuickBooks Online.

If you have further questions about managing your reports by classes in QBO, please let me know by commenting below. Stay safe!

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Using a class for revenue