Question

Assigning Classes to General Ledger Accounts

Forum|Forum|6 years ago
March 23, 2020
14 replies
162 views

Thanks in advance for any help you can give me. I recently took on the job of setting up the accounting system for a not-for-profit organization in our small town. This organization wants to keep track of each of their projects/divisions so as to show the income, expenses an budget info for each project. I believe the best was to do this is using Class designations by General Ledger account. I have set up the classes by project, but I can't set up the project's accounts by Class. On the screen where you set up the gl account the line where you assign the class is not there. Can you tell me how to get this line activated? Thanks.

QuickBooks Desktop

IamjuViel

Level 8

Hello, @24529173.

Let's review your QuickBooks preferences so you'll be able to assign classes to general ledger accounts. Just a heads-up, the ability to assign classes to accounts is only available to QuickBooks Enterprise.

Here's how:

Go to the Edit menu.
Choose Preferences.
Select Accounting.
From the Company Preferences tab, go to the Class section.
Mark the Use class tracking for transactions option.
Put a checkmark on the Assign classes to tick box.
Pick Accounts from the drop-down menu.
Click Ok.

You can read through this blog for more detailed information: How to use class tracking in QuickBooks.

Meanwhile, if you're using QuickBooks Desktop Pro and Premier, you can assign classes to the following transactions:

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

From here, you can run and customize the Transaction Detail by Account report. This will allow you to view lists individual transactions, subtotaled by each account on your chart of accounts. You can also compare the balances across multiple classes, departments, or locations. You can check this article for more detailed information: Filter, sort or total reports by Class.

Leave a post below if you have other questions. I'm always here to help.

C

cpa_chang

What's the point of assigning classes to Accounts?

In QBES 2022, I have classes assigned to Accounts in my Chart of Accounts. But when a transaction posts to a classes income/expense account, any report I try to filter by class won't show that transaction being classed.

I can't seem to find a how to use class reporting for Ledger Accounts assigned with a Class.

M

Mich_S

Level 5

I've got some information to share with you about assigning classes to accounts in QuickBooks, @cpa_chang.

You can track account balances by department, office or location, separate properties, or any other significant division of your organization using class tracking. This allows you to keep track of the segments you wish to keep an eye on.

You can customize General Ledger Report to show the classes you assigned by selecting Class under Search Columns. Here's how:

Open the Reports menu. Then select Accountant & Taxes.
Click on General Ledger.
Select the Customize Report button.
Under Search Columns, check Class.
Once done, click on OK.

For more information on how to handle classes, check this out: Set up and use class tracking in QuickBooks Desktop.

Keep us updated by leaving a comment below. We're here to help if you have additional concerns with this or QuickBooks. Have a nice day!

J

jsedigo

Is there a solution for the same problem for Quickbooks Online users?

G

Giovann_G

Moderator

Hello, jsedigo.

I can see the advantage of being able to assign a class to multiple General Ledger accounts. Currently, QuickBooks Online users can assign classes to customer and vendor transactions. It isn't possible to assign a class to the General Ledger account.

I recommend sending your product suggestion to QuickBooks. Your suggestion will be forwarded and reviewed by our Product Development team for future product improvement.

Here's how:

Go to the Gear icon.
Select Feedback.
Enter your product suggestion.
Hit Next to submit.

You can read the following articles to learn how to manage your classes and customize reports in QuickBooks Online:

I'm always here if you have any other concerns about managing your accounts. Keep safe and have a wonderful day!

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