FASB QBO Setup

Good morning, @steve-fitzgerald.

I'm happy to look at class tracking with you! You'll first need to make sure you have class tracking turned on within QBO.

Once this is turned on, you can easily add your departments as class items. Here's how:

1. Go to Settings ⚙ and then All Lists.
2. Select Classes.
3. Select New. Give this class a name or department.
4. Select Save.

Once your departments are added, you can use the Statement of Activities report. Go to Reports, and search for Statement of Activity. Using this report will not affect your reporting by department.  

For more on reporting by class, check out this article: Run Reports by class.

And here's a very helpful article on tracking transactions by class: Track your transactions by class.

If you've any other questions on this, please let me know! I'm here to help.

Thanks. I'm aware of how to setup the classes. I was interested in hearing from the community on how they setup their classes for things like Program Services, Management and General, Fundraising, etc. 

Glad to have you back here, steve-fitzgerald. Let's get this sorted out.

You'll want to use the Project feature in QuickBooks Online (QBO) to  organize and track all job-related activity in one place. This makes it easy to manage your work and see your progress. I'll show you the process.

Turn on projects:

1. Go to the Settings icon and choose Account and Settings.
2. Go to the Advanced tab.
3. Find the Projects section and select Edit ✎ to expand it.
4. Select the Organize all job-related activity in one place checkbox.
5. Click on Save and close your settings.

For more information about creating projects in QBO, please read this article: Set up and create projects in QuickBooks Online.

Also, check track income, costs, and profitability by project to see a clear picture of your profits from every project.

Let me know if you have any additional project-related concerns or any other questions. I'd be glad to assist you.