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A
Anonymous
November 3, 2018
Question

Classes vs Projects

  • November 3, 2018
  • 3 replies
  • 1 view

In QBO Plus, what is the difference between using classes and using projects? I have an arts organization that wants to track revenue and income for particulars shows. How do we best do that?

    3 replies

    R
    RensF8
    November 3, 2018

    I think you're best to use Projects here.

    I use Classes like departments, so I can separate expenses on financial statements to see the different departments in separate columns.

    I use Projects as jobs, so I can see the income and expenses related to each, or a particular job, at any time.  Projects have stat and end dates.

      C
      Christyalness
      December 29, 2021

      So, you can use projects and classes at the same time?

      LieraMarie_A
      LieraMarie_A
      Level 8
      December 29, 2021

      Yes, you can use projects and classes at the same time, @Christyalness.

       

      Make sure you have these features turned on from your company settings. To activate class tracking, follow these steps:

       

      1. Go to the Gear icon and select Account and Settings.
      2. Select the Advanced tab and choose the Categories section to edit.
      3. Check Track classes.
      4. You can also check Warn me when a transaction isn't assigned a class.
      5. Under Assign classes, select One to entire transaction or One to each row in transaction.
      6. Select Save, then Done.

       

      After that, you can create classes that represent different parts of your business.

       

      Then, you can follow the steps provided by Rea_M on how to set up projects. This feature is only available in QuickBooks Online Plus, Advanced, and Accountant.

       

      Additionally, we have an awesome write-up about converting data that was previously organized by class into projects. Check out this link: Using Projects instead of Classes in QuickBooks Online.

       

      You can swing by anytime you need more help with tracking your transactions. I'm more than happy to help. Have a great day.

      MorganB
      MorganBQuickBooks Team
      QuickBooks Team
      November 5, 2018

      Hey there, jdwatson7611.

       

      Thanks for taking the time to contact the Community for support. I'm here to offer some perspective on the differences between Classes and Projects in QuickBooks Online.

       

      Classes are typically used as departments or segments of your business. This is beneficial for reporting purposes to see how one division of a company is doing compared to others. This article offers an overview of setting up and working with Classes: https://quickbooks.intuit.com/community/Help-Articles/Set-up-and-work-with-class-and-location-tracking/m-p/187874.

       

      The Projects feature is comparable to job costing. Using Projects allows you to include transactions, time, and running reports so you always know how your project (or art show) is doing. I have a write-up for you that covers the ins-and-outs of using this component of QBO: https://quickbooks.intuit.com/community/Inventory-and-projects/QuickBooks-Online-Projects/m-p/186112.

       

      With this information, you'll be able to showcase revenue and income for your shows in QuickBooks. Feel free to contact me if you have any other questions. Take care. 

        R
        ron_b
        February 24, 2019

        Hi Morgan, or Anyone else,

        Looking through the discussions, including this one, I didn't find a solution for my situation:

        I have 1 LLC that owns 2 dbas, which I want to manage through 1 Quickbooks account.

        But I want sales orders, quotes, (and maybe purchase orders) to display the 2 different dbas as needed, depending on the production I'm selling.

        I doesn't see like projects or classes would solve this?

        If yes, how?

        Thanks! 

        H
        HC786
        February 17, 2022

        Quick question Can I create a project after the transactions are posted and reallocate to the project

         

        Thank you

        M
        MadelynCModerator
        Moderator
        February 17, 2022

        Yes, you can @HC786. I’m here to provide you information.

         

        In QuickBooks Online, you have the option to reallocate the existing transactions to your new project. If you have unpaid invoices, you can simply follow the steps below to add them to projects.

         

        1. Select the Sales menu, then go to the Invoices tab.
        2. Locate and select the unpaid invoice.
        3. Press View/Edit under Action.
        4. Click the Customer dropdown, then select the project.
        5. Select Save.

         

        Please know that modifying paid invoices will disconnect from the attached payment, and the transaction status changes to unpaid. You can read this article to learn how to add a paid invoice to your project: Add existing invoices to QuickBooks Online Projects.

         

        Moreover, you can visit these resources for more insights about projects:

         

         

        Please don’t hesitate to comment below if you have any other concerns or questions about projects. The Community is always here to provide you assistance. Take care!

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