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Join nowWe use cash basis accounting. Our client wants to start using P&L classes this year. We've already begun paying invoices that were generated in 2021, and so I've assigned classes to those invoices we are paying in 2021 as we've been paying them. However, when I run the P&L by class, the revenue is still being posted without the P&L classes, even though the invoices do have classes assigned. Instead when I drill down on the revenue ledger transaction, the invoice has no class assigned.
Is there something else I need to do to get the invoice transactions to post to the correct class when they are paid?
You're already on the right track in assigning classes to your invoices in QuickBooks Desktop (QBDT), @bogeyboy013. Let me share additional insights about the feature so you can post transactions to the correct class.
When utilizing the class tracking feature, you'll have to assign classes on the invoice transactions as well (Please see the screenshot below for your reference). This is because the Cash basis Profit and Loss by Class report is classifying each item that's assigned to a specific class.
Also, QuickBooks displays reports based on the information that's extracted from the data file and shown as a set of transaction lines. To know more on how QuickBooks generates reports in QBDT, I'd recommend checking out this article: Understand reports.
Please don't hesitate to let me know if you have other concerns about the class feature and managing invoices in QBDT. You can drop a comment below, and I'll gladly help. Take care, and I wish you continued success, @bogeyboy013.
If you have the class column enabled on your invoices, then when you pick a class at the top of an existing invoice, the detail lines of the invoice won't have the class filled in automatically. Could that be what you're seeing?
If your goal is to assign one class to each invoice, applied to all detail rows, then you can make this simpler by turning off the class column. Then when you pick a class at the top of the invoice, or change the class, all of the detail rows will have that class assigned.
Note that you can't edit some of the default templates to remove the class column, especially the ones named "Intuit...", but if you're using one of them and you like it, you can make a copy of it and then alter the copy and use it going forward (and change to it when editing older invoices.)
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