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I have been using Quickbooks Desktop for several years. I have decided it is time to start using Classes to help differentiate between a new business line I am adding. I have turned on Class Tracking and started adding the new class to the appropriate transactions. However, all of my previous data doesn't have a Class associated with it. Is there a way to have all of my old transactions assigned to a specific class?
Having insights into where your money is going and how each segment of your business is performing is essential to your operations, Jmanwaring Yes, you can assign a class to all of your existing records in QuickBooks Desktop (QBDT).
Depending on the type of transaction, go to the relevant section:
For Invoices:
For Bills and Checks:
For Bank Transactions:
Once you’ve assigned the class, click Save & Close to save the changes and close the transaction window.
Moreover, there is no direct feature in the program when editing or reclassifying multiple transactions at once, you might use batch processing tools or third-party applications integrated with QBDT that support batch editing features.
Finally, with classes, you can generate detailed reports that break down income, expenses, and profits by class. This level of detail helps in understanding the profitability and financial health of different parts of your business. Refer to this article to learn more about this feature: Filter, sort, or total reports by Class.
You can always post a reply if you need more helpful tips about classes in QBDT. I'm always here to help. Take care.
@AdonL Buddy.
They want a convenient way to add classes, something that can be done in one or few actions on their part, not a week-long slog through their entire financial history.
@jmanwaring What you actually want does exist, though I'm not sure it is in all versions.
In QuickBooks Accountant Desktop, there is an Accountant menu at the top of the program, 5th menu from the left.
That Accountant Menu has a submenu called Client Data Review. There, you can find an option to Reclassify Transactions, second option from the top.
Within the Reclassify Transactions window, you can select a date range that encompasses the time period you need to change.
Then, it is as simple as using the list on the left to go through your income and expenses. In each, you'll select the option on the bottom middle to change the class of all selected transactions to a specific class, and clicking Reclassify.
It will still need to be done one account category at a time, but that is still much better than one transaction at a time... assuming your version of QuickBooks has that functionality.
If not, you may be in for a very boring week. I would suggest creating a report that contains a class column and using that, rather than henpecking through the various Centers in QuickBooks, assuming you don't have the Accountant menu available.
Thank you for the response. That is what I am looking for! I dont see that option available in my current edition, but honestly might be worth it to buy the Accountant version. The idea of working through my old data makes me want to vomit.
Thanks again for the solution!
@AdonL "Moreover, there is no direct feature in the program when editing multiple transactions at once, you might use batch processing tools or third-party applications integrated with QBDT that support batch editing features."
For the sake of posterity, and not allowing you to make me look like I am illiterate, this was not in your original post until you edited it following my reply.
Also, you're wrong in at least one version.
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