Using items in desktop for nonprofits 2016?

Anonymous · ‎March 19, 2019

Can items be used as an additional way to classify expenses on the books? The nonprofit I'm at has grant reimbursement billings which categorize the expenses differently from how they are booked. They are typing a code in the memo field to get around this and then manually calculating the totals from a printed report. I'm wondering if there is a better way to do yet still keep in on the books.

Rustler · ‎March 21, 2019

@Anonymous wrote:

Can items be used as an additional way to classify expenses on the books? The nonprofit I'm at has grant reimbursement billings which categorize the expenses differently from how they are booked. They are typing a code in the memo field to get around this and then manually calculating the totals from a printed report. I'm wondering if there is a better way to do yet still keep in on the books.

If I understand what you are wanting, yes they can

simple create the service or non inventory item you need, name it for the code, put the explanation in the description block and select the account you want it to post to.

you can run reports on sales by or purchases by item as needed

View solution in original post

Alessandra_B · ‎March 19, 2019

Hey there, @Anonymous.

You can classify your expenses using the tracking features. Let’s get started.

First, let’s enable your class and location tracking preferences. Here’s how:

Go to Edit menu.
Choose Preferences.
Click on Accounting from the left panel.
Tick on the Use class tracking for transactions checkbox.
You can also tick on the Assign classes to checkbox to choose which you want to track.
Click on OK.

Once set, you can now track your expenses using the class and location tracking. Also, assign classes to your transactions or per line item.

Fill me in if you have any other questions about classifying your transaction. I’ll be around to provide assistance to you.

Anonymous · ‎March 20, 2019

Well, they are using classes already, which works fine to separate expenses by grant. They want to further classify them for some special reporting purposes.

Rose-A · ‎March 20, 2019

Thanks for the quick response, th1976.

Allow me to help and share with you some additional information about the class tracking feature in QuickBooks Desktop.

In QuickBooks Desktop, you can only assign classes to Accounts, Items, and Names.

If you wish to classify the class tracking feature, this can be broken down further by putting a check in the box next to “Subclass of” and enter the information in its text field.

Here's how:

Click List at the top menu bar.
On the drop-down list, select Class List.
Click Class and select Subclass of.

Classes can be associated with any entry you make in QuickBooks, and it’s particularly useful for your bills and expenses.

You can get more insights in this article: https://quickbooks.intuit.com/blog/whats-new/how-to-use-class-tracking-in-quickbooks/.

Keep me posted if there's anything else you need about class tracking in QuickBooks Desktop. Have a nice day.

Anonymous · ‎March 21, 2019

Could items be used as well? Or would it be better to use jobs?

Here is an example of an entry:

Type Date Memo Account Class Amount

General Journal 1/1/19 Grant code 110.8 Rent State Grant 1000.00

What they are doing is to print a detail profit and loss by class and then they manually pick out the codes in the memo field and add them up on a spreadsheet. The reason for this is that the accounts (like rent, office supplies) don't match the categories that are used to bill the grants.

Rustler · ‎March 21, 2019

@Anonymous wrote:

Can items be used as an additional way to classify expenses on the books? The nonprofit I'm at has grant reimbursement billings which categorize the expenses differently from how they are booked. They are typing a code in the memo field to get around this and then manually calculating the totals from a printed report. I'm wondering if there is a better way to do yet still keep in on the books.

If I understand what you are wanting, yes they can

simple create the service or non inventory item you need, name it for the code, put the explanation in the description block and select the account you want it to post to.

you can run reports on sales by or purchases by item as needed

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Using items in desktop for nonprofits 2016?