WHEN YOU TRANSFER $ FROM ONE ACCOUNT TO ANOTHER ACCOUNT, HOW YOU CODE THE CLASS LOCATION?

Hi @jenny-msquaretru,

I'll share insight on your query about bank transfers in QuickBooks Online (QBO).

The Transfer function in QBO has the fields where the amount is coming from, the receiving account, currency, amount, date, and memo. The option to include a class or location is unavailable. 

What you can do is create a journal entry if you wish to include a class or location. 

Here's how:

1. Go to the + New menu.
2. Select Journal entry.
3. Fill out the fields as necessary.
4. When finished, press Save and close. 

As for which specific accounts to use, I suggest consulting with your accountant or bookkeeper. That way, they can ensure that your books remain accurate after you create the journal entry. 

You can take a look at this article as well: How to apply a journal entry credit to an invoice. It's a list of steps on how you can utilize a journal entry to apply a credit to an invoice. Links on related articles are on the page too. 

I'll be around in case you need further help. Place a comment below, and I'll get back to you. 

@Ryan_M Thank you for this tip.

Please try to reply to all three below. Thanks

1) The lack of ability to enter a Class or Location directly into the screen when recording a bank transfer in QBO is a real deficiency, and may end up causing errors in the two-step process you recommend of making a corresponding journal entry for each Transfer.  AND I DON'T SEE CLASS OR COUNTRY IN OUR Journal Entry Screen, and can't get them to appear by clicking the settings icon, like needed to do for the Bank Transactions.

WOULD YOU PLEASE show a detailed example with images of how to "create a journal entry if you wish to include a class or location." I looked at the linked page you show and am confused. So we'd need to reference a bank transfer transaction in the Journal Entry to have an audit trail before adding the Class or Location via a Journal entry. And where the heck do we enter them for JE's?

2) Is this deficiency on the list of enhancements that will be made soon to QBO? Not including Class and Location in the same screen for a different type of transaction, is like if an airline's reservation system does not allow recording frequent flyer numbers, or seat assignments, for one type of reservation, like if a person needs to change from one flight to another? Or if the client is an unaccompanied child?

3) What other types of transactions lack the ability to record class and country?

Hi there, @AL_67. 

Thanks for posting your journal entry questions in this thread. I'm here to address all your concerns. 

Based on the screenshots you shared, it looks like the class and the location tracking aren't turned on yet. That's why it's not showing on your end like this screenshot below: 

To use classes to track income, expenses, or profitability by business segment, you'll need to have QuickBooks Online Plus and Advanced. Otherwise, upgrade your plan so you can start using them.

Here's how to turn on class tracking: 

1. Go to the Settings menu, then select Account and Settings.
2. Click Advanced, then choose the Categories section to edit.
3. Check Track classes. You can also check the Warn me when a transaction isn’t assigned a class so when you look at reports, you know everything got classified.
4. Under Assign classes, select One to entire transaction or One to each row in transaction.
5. Click Save, then Done.

Once done, you can now set up your class list and create classes that represent different parts of your business.

To categorize data from a different location, read through this article to learn more about its process: Set up and use location tracking.

Below is a sample of how to create a journal entry with class or location:

For future reference, here's a one-stop resource that contains links to different topics related to the Class Tracking feature in Quickbooks online.

Let me know if you have any more questions, @AL_67. I'm always around to help. 

@katherinejoyceO  Thanks for your response and offer to help more.

We have been using class for months now. But indeed when I posted my comment above, it was not showing up when making journal entries. 

I double checked our sytem settings and indeed it says we are using Classes. And I went to the Journal Entry screen and indeed Class and Country appear today. What can cause tthese fields to not appear always? Is it a cache thing? Maybe I just need to close the browser and restart it when such quirks happen.

I have bookmarked the page that is supposed to be ALL THINGS ABOUT CLASSES.

But would you please reply or tell me who I ask these from my original comment?

2) Is this deficiency on the list of enhancements that will be made soon to QBO? Not including Class and Location in the same screen for a different type of transaction, is like if an airline's reservation system does not allow recording frequent flyer numbers, or seat assignments, for one type of reservation, like if a person needs to change from one flight to another? Or if the client is an unaccompanied child?

3) What other types of transactions lack the ability to record class and country?

Thanks again

Hi there, @ AL_67.

Journal entries are used as the last resort for entering transactions. You also use this when you transfer money between income and expense accounts. Or, transfer money from asset, liability, or equity to any income and expense accounts. 

Once you assigned a class on each line item on the Journal Entry, save it and re-run the report. You're unable to change the class by creating entries. You can open the journal entry and make sure that you've assigned a specific class to it. Also, you can open the transaction and change the class manually.

Then, when you pull up the Sales by Customer report, it will show the transaction's correct class. You can also customize the report to help you focus on the details that you want.

If you're unable to assign a class on each line item, you can review your class tracking settings. Here's how:

1. Go to the Gear icon.
2. Choose Account and Settings.
3. From the Advanced tab, scroll down to the Categories section.
4. In the Assign classes drop-down, choose One to each row in transaction.
5. Hit Save, then Done to record the changes.

You can browse these articles to learn more about customizing your reports:

• Run reports by class
• Filter, sort, or total reports by Class

If you have any other questions about this. I'll be keeping an eye out for your response. Keep safe always.