Should our church use class or project to track capital campaign that will fund 3 specific projects? Can we use both class and then separate projects? How?
I've got the details you need about tracking your capital campaign transactions in QuickBooks Online (QBO), @carolyn_hart.
The projects feature helps you track your income, expenses, and profitability by project. On the other hand, the class tracking option helps you manage your transactions by business segment. With this, I recommend consulting your accountant to determine the right tool for your church. They can also review the organization's setup if you can use the two tools separately. Please take note that these are only available in the Plus and Advanced versions. Once verified, proceed with the steps below.
For the three specific projects, let's use the projects feature. This way, you can manage your work and see your progress from a single dashboard. Let's first enable it in the settings. I'll guide you how.
Go to the Gear (Settings) icon at the upper right.
Select Account and Settings under Your Company.
Go to the Advanced tab.
Check the Organize all job-related activity in one place box.
Second, you can create each project by selecting the New Project button. Third, choose Add to project to create your project income and expenses. View the screenshot below for your visual reference. To learn more about this process, check out this article: Projects Overview.
Also, you can run the Project profitability report. You'll be able to track your expenses and profits by project from there. Just go to the Project Reports tab and click View within the report section. The screenshot below serves as your visual guide.
For the class tracking option, let's enable it in the settings so you can set up your class list. Just go to the Categories section from the Advanced tab. For more information, visit this article: Turn On Class Tracking.
As always, you can run reports by class in the program. These help you review your sales, expenses, or profitability by business segment. For more details, see this article: Run Reports By Class.
Please know that I'm here anytime you have other concerns. I'm cheering on your continued prosperity while using QuickBooks, @carolyn_hart.