Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowHello, labarreventures.
Let me share some information about the class/location tracking in QuickBooks Online.
Class tracking in QuickBooks is an awesome feature. Class track of your Income, and expenses by department, location, property, project in QuickBooks. This feature is only available in QuickBooks Online Plus.
You can easily turn on class tracking or location tracking in Settings:
Now that you have enabled the drop-down menu for Classes or Locations, you can create categories for them:
Choose Classes or Locations
You can get more information in this article: How to set up and use class and location tracking.
For QuickBooks Online comparison, check out this link: https://quickbooks.intuit.com/online-compare/.
Keep me posted if you need more information about class or location tracking in QuickBooks Online.
Hello! Thanks for the reply.
Could you tell me if it is necessary to group income and expenses this way or should I just list all business income and expenses under the main LLC.
I really feel like it will become too complicated and cost more than I really can afford at this time.
Please advise. Thanks!
@labarreventures wrote:
Hello! Thanks for the reply.
Could you tell me if it is necessary to group income and expenses this way or should I just list all business income and expenses under the main LLC.
I really feel like it will become too complicated and cost more than I really can afford at this time.
Please advise. Thanks!
You have to prepare a separate schedule C for each business. "Class" only available in QBO Plus would be the easiest, but if you don't want to get Plus, you could make an income-type account for each DBA, and for expenses make a different parent expense-type account for each DBA, and then each has own list of sub-accounts for the expenses. There may be duplication:
Eg.
DBA1: Advertisng
DBA1: Supplies
etc.
DBA2: Advertisng
DBA2: Supples
etc.
You would have to calculate the net profit for each DBA
Thank you so much! I think that will work for us for now and keep the quickbooks version price within our budget.
Appreciate your help!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.