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Level 1

Tracking Program Revenue and Expense in QuickBooks Desktop

Our nonprofit runs programs throughout the year and we would like to track each one for revenue and expense.  We run about 60 programs per year, so I don't think using Classes would work or we'd soon have hundreds of them.  Any ideas?

 

Running QuickBooks Premier Nonprofit 2018.

 

Thanks,

Steve

2 Comments
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Level 7

Tracking Program Revenue and Expense in QuickBooks Desktop

Classes are the way to go.  You could set these up as customer:jobs, but with 60 per year, you are still going to have 60 columns.

 

The only other alternative and it is not a good one, is to make a very lengthy chart of accounts using subaccounts for each project both for revenue and expenses.  This can become a nightmare.  With other accounting programs that do not have the class feature, I've seen this done and a lot of clients used to this hierarchy have a difficult time embracing the class feature in QuickBooks.  I've switched hundreds of clients with this mentality to the QuickBooks class structure and they are amazed at how simple it is once the concept is explained and the sample reports are run.  

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QuickBooks Team

Tracking Program Revenue and Expense in QuickBooks Desktop

Thank you for posting here in the Community page, @PhilanthropyOhio.

 

Allow me to share some information about tracking your expenses and revenues in QuickBooks Desktop (QBDT).

 

Classes and subclasses are additional means to categorize data in QBDT. They are very versatile, but you must be careful to select how you filter, sort and total them. The maximum number of entries for QuickBooks Pro and Premier for classes is 10,000 entries. However, you can also track job costs in QuickBooks.

 

Job costing means tracking your expenses for a job and comparing those expenses to your revenue. With this, you can see how much money you spend and make for each job. For the detailed process and information about job costing, you may check this article: Track job costs in QuickBooks Desktop.

 

To run job costing reports, you may check Step 6 of the article mentioned above, or run the Profit and Loss report and customize it by Job Type.

 

To customize the report:

 

  1. On the reports page, click Customize Report.
  2. Select Filters.
  3. Look for Job Type.
  4. Select Multiple Job Types under the Job Type column.
  5. Put a check-mark on the Job Type you want to display on the report under Select Job Type window.
  6. Click OK to save the changes.

Let me know if you have any other questions by tracking income and expenses. Have a wonderful day!

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