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Level 3

Classes vs Product Tracking

I currently use Quickbooks Pro 2018 and am considering upgrading to the Premier 2019. I am attracted to the specific product profitability tracking feature to easily keep track of which products are generating more profits than others. Then I realized that I can do this with class tracking (which I already use) by assigning a class to each product.  This is easy to handle since I do not have that many products. Classes and Product tracking seem to be essentially the same just that you probably can track products within a class. Is there something that I am missing?

3 Comments
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QuickBooks Team

Classes vs Product Tracking

Hi Hanky,

 

Class tracking in QuickBooks Desktop can be used in tracking income and expenses by department, location, project or event. While Product tracking is the distribution of many types of products

 

For more information about these features, you can go to the Help section inside QuickBooks. 

 

Feel free to reach out to us if you have any other questions about QuickBooks. Thanks.

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Level 15

Classes vs Product Tracking

You are misunderstanding this: "Then I realized that I can do this with class tracking (which I already use) by assigning a class to each product.  This is easy to handle since I do not have that many products. Classes and Product tracking seem to be essentially the same just that you probably can track products within a class."

 

You already have Items. You can run reports such as Item Profitability. Class Tracking is an additional cross-reference, such as Web Sales vs Storefront. Or, Different States you do business in. That provides P&L by Class, and Bal Sheet by Class.

 

Example: You and I are partners. We also each are a Class, along with "Admin/General." Now all financial reporting can be By Class or filtered on one Class, including the Sales by Customer Summary or Item Sales, Profitability, etc. That way, we c an see Your Cost to the operations, my cost to the operations, General costs, and Revenue by Who is bringing in the most in Sales and the better Price points, who is giving bigger discounts, write offs, etc.

 

Your question is simply using Items and the right Reporting. Look at the Reports menu for Sales reports, for "Jobs, Time & Mileage" reporting which is where some great item-based reports can be found.

 

Please see my attachment. I used Customer Type in this file, too, for great reporting differentiation by business line.

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Level 15

Classes vs Product Tracking

Oh: Products, or Items, includes using Quantity. Class is not offering Quantity. Items is what you want to use.

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