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sammelnick
Level 2

We are a performing arts non-profit that wants to track our concerts efficiently. We currently use classes for funds. Should we use tags or projects to track concerts?

Here are my concerns with each approach. With tags, there is a limit. We won't reach that limit anytime soon, but perhaps in 10-20 years we will. Also, selecting tags will eventually be overwhelming once we have multiple events unless there is a way to mark tags as inactive somewhere. With projects, we would have to assign a customer. Could we assign ourself as a customer just for the sake of concert cycles? Our musicians are contractors that would be tracked as expenses, along with space rentals and such. And all sales would be listed as income, of course. Would listing ourselves as a customer in a project create any issues? As far as why we aren't using classes, we are also connected with Little Green Light which uses classes to track our different funds, so we won't change that approach.
3 Comments 3
ZackE
QuickBooks Team

We are a performing arts non-profit that wants to track our concerts efficiently. We currently use classes for funds. Should we use tags or projects to track concerts?

Thanks for reaching out to the Community, sammelnick.
 

With a QuickBooks Online Plus, Advanced, or Accountant subscription, projects can be used to track income, expenses, and profitability for products/services. If you're not already subscribed to one of these plans, you can upgrade anytime while signed in.
 

Here's how:

  1. Use your Gear (⚙️) icon and go to Account and settings, then Billing & Subscription
  2. Choose Upgrade your plan.
  3. Pick a plan and click Choose plan.
  4. Select Get started.


Now you'll be ready to start using projects. First, they'll need to be turned on:

  1. Utilize the Gear (⚙️) icon, then access Account and settings.
  2. Open your Advanced tab.
  3. Locate the Projects section and hit its Pencil (✏️) icon to expand it.
  4. Tick your Organize all job-related activity in one place checkbox.
  5. Press Save.


Once you've activated this feature, you can begin creating projects and tracking them. If you're curious as to which customer to use when creating a new project, I'd recommend getting in touch with your accounting professional. If you don't have one, there's an awesome tool on our website called Find an Accountant. It can be used to locate a QuickBooks-certified ProAdvisor for your business.
 

In regard to using tags, these are utilized for tracking money, so they wouldn't come in handy for services.
 

I've included a couple helpful resources where you'll be able to find detailed information about creating customers and using tags:

 

Please feel more than welcome in sending a reply if there's any additional questions. I'll be here to help. Enjoy the rest of your day!

peggyAtlanta
Level 2

We are a performing arts non-profit that wants to track our concerts efficiently. We currently use classes for funds. Should we use tags or projects to track concerts?

I have similar questions for two of my bookkeeping service clients.  I don't think ZekeE's answer clarified the question, it only told us how to use tags and projects.

One of my clients is also an arts non profit.  We use classes to identify Administrative, Program, and Fundraising expenses - information that we need for the tax return.  If we start to use tags for particular events (an art show, a lecture series, etc) how would this appear in reports with our classes?  Will we be able to run reports of tags by class or of class by tag?

The other client is a residential builder.  We use classes to account for each property.  But we need to track both income and expenses.  Will tags do that?  What would be the difference in using tags and using classes for the builder?

Are these all different services for different levels of QuickBooks service?  If the answer is yes, is there an easy place to reference which tools are available for different QuickBooks services?

Thank you.

Peggy Freedman

Candice C
QuickBooks Team

We are a performing arts non-profit that wants to track our concerts efficiently. We currently use classes for funds. Should we use tags or projects to track concerts?

Hey there, @peggyAtlanta

 

Thanks for joining in on this thread. I hope your day is going well so far. Allow me to provide you with some information about tags and classes within your QuickBooks Online (QBO) account. 

 

Tags

 

Tags are able to track your money however you want, with customizable labels. You'll need groups to view tags properly on reports. You can tag invoices, expenses, and bills. Here's a guide that can help you get started: Tag transactions

 

Classes

 

Classes are used to track transactions by departments, product lines, or any other meaningful segments in your business. Here's a link to help you get started: class tracking

 

You can also check out these articles about other features that might be more specific for your business: 

 

 

After reviewing the information, you should get a better understanding of which feature is best for your business. Should you need any further assistance, feel free to ask. I'm only a post away if you need me. Have an amazing day! 

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