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safariguy
Level 3

Choosing a class in the register

My business is opening a new location and I'd like to use a class to track income and expenses for it. I've activated classes in the preferences and clicked the box for "prompt to assign classes" but I don't get a prompt nor can I even find the class box in the register. What am I missing? 

 

I'm on QB Premiere 2019 Desktop.

Solved
Best answer August 04, 2020

Best Answers
john-pero
Community Champion

Choosing a class in the register

Class is added to Invoices, Bills, Sales Receipts, Checks, Transfers. It is in the detailed tool used to record in the register. You should refrain from using the register view to record your entries.  Not that it is bad, but that it is short on detail

 

Class is a tag and as such is superfluous to the register itself. Reports by class are generated by use of the tag

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8 Comments 8
john-pero
Community Champion

Choosing a class in the register

Class is added to Invoices, Bills, Sales Receipts, Checks, Transfers. It is in the detailed tool used to record in the register. You should refrain from using the register view to record your entries.  Not that it is bad, but that it is short on detail

 

Class is a tag and as such is superfluous to the register itself. Reports by class are generated by use of the tag

safariguy
Level 3

Choosing a class in the register

I'm sorry, but I don't know what you're talking about when you mention the "detail tool." How do I find and use that? 

AlexV
QuickBooks Team

Choosing a class in the register

Good day, safariguy.

 

Let me share additional details about class tracking.

 

What john-pero mentioned is correct. We're unable to assign class on the register. We can only add them to the following transactions:

  • Invoice
  • Sales receipt
  • Estimate
  • Sales order
  • Statement Charges
  • Refunds and credits
  • Check
  • Credit card charges
  • Bill
  • Purchase order
  • Paycheck

You can click on either Customer, Vendor, or Employees menu so you can create any of the said transaction types. Click this link to know more about class tracking in QuickBooks Desktop.

 

Post again if you have more questions. Have a great day!

safariguy
Level 3

Choosing a class in the register

Okay, I understand that. And thanks for your help!

 

So maybe I should be asking, what is the easiest/best way to separate income and expenses for two entities that are technically part of the same corporation but we want to easily track their separate figures?

 

For reference, we have a junior high and senior high that is one campus/program and a new elementary program. We want to make sure that all revenue for the elementary program is kept separate from he JH/SH. For example, advertising expenses for the elementary school is entered into the register and is atributed to the elementary school. 

 

If this is with classes, then I'll just have to take that extra step of opening the split on each transaction. If there's something else you'd recommend, however, I'm all ears. 

 

Thanks again for your help. 

jamespaul
Moderator

Choosing a class in the register

Hello, safariguy.

 

Thank you so much for getting back to us! I'd like to reinforce the Class Tracking feature and how it can be used to separate income and expenses of your entities. 

 

The class tracking would be perfect to separate the income and expenses for the two entities. This is generally recommended if you're managing your business this way.

 

Just like what AlexV posted, you'll want to assign the classes to your expenses. If you haven't added one yet, here's how to do it:

 

  1. Open the Edit menu, then choose Class List.
  2. Click the Class button, then select New
  3. Enter a class name, then hit OK.

 

 

Add as many classes as you want. When you're done, start creating transactions for your business entities. I'd also recommend reading AlexV's link about the Class Tracking feature if you want to learn more about it. 

 

In addition to john-pero's answer, reports are generally used to view financial data. One way to view a segregated data of your entities is to filter a report. For example, the Profit & Loss detail report tells you an overview of your net income and expenses. Filter it to show transactions with a specific class tag. Here's how: 

 

  1. Go to the Reports menu. 
  2. Hover your mouse on Company & Financial, then choose Profit & Loss Detail
  3. Click the Customize button.
  4. Go to the Filters tab.
  5. In the search filters box, type Class.
  6. Under the Class drop-down menu, choose a specific class.
  7. Once done, hit OK.

 

 

 

 

I'd also suggest reaching out to an accountant so they can better guide you in categorizing and managing your transactions. They'll also ensure your books are accurate and the numbers are all accounted for. 

 

Need help managing your entities' transactions or data in QuickBooks Desktop? Our articles might help you out. Click here to go to our general support page. 

 

I got you covered with any other future concerns. Just visit this thread again for any questions about QuickBooks Desktop. I'm always here to help. Good day ahead. 

MAD_1
Level 1

Choosing a class in the register

Here is the simple and direct answer to your question, without any geeky or techy sarcasm.  To add a class to your transaction while in the register, you must highlight the transaction then click "Edit Transaction".  In the lower half of the screen, you'll see the "class" box all the way to the right.  Also, when downloading transactions into Quickbooks Desktop, I discovered that you need to be in Express Mode or Advance Mode to add classes while entering downloaded transactions.  Go to Edit, Preferences, Checking, Company Preferences, Bank Feeds to change the mode.  If you use Classic Mode for downloading transactions, you will have to go back and add classes after downloading by using the Edit Transaction feature.  Hope this helps.

cdhoppes
Level 1

Choosing a class in the register

If you are working in the register and class is already setup simply use the splits button to eddit class.

tpick
Level 1

Choosing a class in the register

This was the first answer to her actual question--very helpful thank you

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