Hi, Midniteriders12am. While QuickBooks Online (QBO) doesn't have a direct way of setting up a cost center, we can utilize the class or location tracking in the application to represent one.
These features allow you to group and track expenses by department, project, or specific areas within the organization. However, please note that this option is only available for QBO Plus and Advanced plans. Otherwise, you can consider upgrading to the following versions.
Here's how to enable, set up, and assign classes or locations to transactions:
- Turn your Class or Location tracking on in QuickBooks.
- Go to the Gear icon and select All Lists.
- Choose Classes or Location and hit New. Name it to identify by department, project, or specific areas within the organization.
- Click Save to finish.
- Track transactions by Class or Location to assign them to specific cost centers and group them for reporting purposes.
If you need additional assistance with tracking expenses for specific areas of your business, don't hesitate to reply. I'm just a click away.
