Service Item

You may want to consider making each workshop a Project. You can, if you have the right version, use Projects to tag income and expenses for workshops, jobs, contracts, etc without using up classes under class tracking. 

During or when the project is completed you can view the Financials related to each project

So each workshop would have a unique project code. Can you run P&L reports based on project codes?

I did a bit more reading on projects and have a few more questions.

1. Do projects have to be associated with a customer?
2. What is the difference between projects and classes?

Hi there, NetworkGuy.

I appreciate you for coming back to the thread to ask for additional clarification about your concern. With this, I'll be sharing further details on how setting up or managing projects in QuickBooks Online works.

To start with, each workshop wouldn't have a unique project code but has an individual project name. This is to determine what specific task or main goal of the project work and deliverables. Then, you can run P&L reports based on the project name by customizing them. You'll have to ensure to choose the correct customer's name so it will appear with the associated project name. I attached screenshots below for visual references.

You also have the option to run the Project Profitability report. This will pull the information based on the project name. To do this, you'll have to open the specific project and click the Project Report to show the Profitability.

On the other hand, the project is to accumulate all expenses and invoices for that specific project. That said, yes, it needs to be associated with a customer so you're able to see to whom you'll bill/invoice the entry.

Lastly, the Projects feature in QuickBooks Online is to track your project’s profitability. You can add project income, expenses, and labor expenses, add old transactions to new projects, and run project-specific reports from a single dashboard. While Classes represent meaningful segments in your company, like store departments or product lines. 

Additionally, please refer to this article to view different details on the advantages of Projects in QuickBooks and how it helps in your daily transitions: Projects FAQ.

Reply to this thread if you have any other concerns about the project in QBO. I'm only a few clicks away if you need further assistance.

Hi ChristieAnn,

I did further reading and came across a serious limitation. It seems that Projects can only be associated with one customer.  We run workshops that have multiple customers, so Projects would not work.

I did come across TAGS, which I think might be what I am looking for. I see there is a special report, P&L by Tag Group. I am wondering if I can run standard reports and filter on one or more tags?

Thanks,

John

Let's sort this out, @NetworkGuy.

In QuickBooks Online (QBO), you can run the Profit and Loss by Tag Group report to show transactions assigned to specific tags. You also have the option to filter the report to show one or more tags. Let me walk you through the process:

1. Sign in to your QBO account and click the Reports menu.
2. In the Find report by name field, enter Profit and Loss by Tag Group.
3. Select the result to open the report.
4. Once opened, click the Customize button.
5. Set the correct date for the report in the Report period section.
6. Next, go to the Filter option and check the box beside Tags.
7. Choose All if you want all tags to show. If not, click the dropdown arrow and select only the tags you need to display. 
8. When everything is fine, select Run report. 

For your reference about using tags for tracking your transactions, visit this article: Tag transactions in QuickBooks Online.

You may also want to save your report customization so you can easily pull it up whenever needed. To do so, simply click the Save customization option and input the necessary details. You'll see the saved report under the Custom reports tab.

Post a reply below if you have any other concerns about running a report that shows tags. I'm always here to assist you. Wishing you and your business continued success.

So tags are only available in the  Profit and Loss by Tag Group report and not in other standard report?