Class tracking in QuickBooks provides the standard account based tracking. QuickBooks provides you a user friendly method to setup class tracking and running quickly. Classes help the business with different departments or locations according to the report account balances for all departments.

How To Use Location And Class Tracking In QuickBooks?

You can use class tracking if you are looking easier expenses or greater control because it provides a primary benefit of class tracking.

Class tracking is a great function in QuickBooks as it provides you the feature of class tracking your income, expenses, location, property, project in QuickBooks. QuickBooks Class tracking is a very user-friendly process and can easily be done in no time. With class tracking, you can manage or run reports of profit and loss and even filter reports such as accounts receivable and accounts payable reports by class.

The class tracking feature in QuickBooks helps you in tracking the important information and make the complex process easy. If you are looking for the steps to setup the class tracking feature in QuickBooks then you have landed on the right page.

How To Create Classes In QuickBooks One By One?

  • Open the main page of QuickBooks application

How To Create Classes In QuickBooks One By One?

  • Enable class tracking in your company profile

How To Create Classes In QuickBooks One By One?

  • Click on List from the menu bar and click on Class List from the drop-down list.

How To Create Classes In QuickBooks One By One?

  • Go to the bottom of the page and click on the class button arrow
  • Click on New to create a new class
  • The class types you create an account for a variety of expenses.
  • Enter the name associated with the class. Check the Sub-Class box and enter the details in the respective fields.

How To Create Classes In QuickBooks One By One?

Common Mistakes In Class Tracking

  • Classes can be useful for workarounds: Keep focusing on the main work and create a separate class for each transaction. Because you work on multiple items at same time and you do not list them properly.
  • Balance sheet by class: If you want to learn more for balance sheet you search on balance sheet by class in QuickBooks, it gives detail knowledge. Class report manages the QuickBooks balance sheet.
  • Chart of account and classes: There is a difference between the classes and the charts of accounts. One common mistake that usually occur is the uses of classes of track projects or events because they don’t know exactly where to track expenses.
  • Use classes on posting transactions: Assigning a class to every posting transactions. For example, when you give the bill of any product or services of your customer with using invoice, the invoice is posting transaction, and you assign the class for invoice.
  • Open a profit loss unclassified report: You need to assign the class before creating the profit and loss report. This is how you can easily memorize the profit and loss classes.

Set Up And Work With Class And Location Tracking In QuickBooks?

Class tracking tracks multiple reports at a time. To do so, you can use the class or location tracking according to your business.

Turn on class tracking or location tracking in settings:

  • Click on the gear icon from the top
  • Click on Account and then Settings
  • Click on Advanced
  • Click on the Edit icon from the categories section
  • Select the category that you want to enable and select the settings for that category
  • Click on Save

Create class or location categories

  • Click on the gear icon from the top
  • Click on All Lists
  • Select between Classes and Locations
  • Click on New
  • Enter the details
  • Click on Save

Edit or delete class or location:

  • Click on the gear icon from the top
  • Click on All Lists
  • Select between Classes and Locations

From the drop-down under the Action column

To delete:

  • Click on Delete from the drop-down list
  • Click on Yes in the confirmation box

To edit:

  • Click on Edit from the drop-down list
  • Make the desired changes and click on Save

Follow The Steps Carefully or Contact Or ProAdvisors

The above mentioned steps will help you in setting up the class tracking and location tracking in QuickBooks. However, if you face any issue while the process then you can get in touch with our ProAdvisors by dialing our QuickBooks Support Phone Number +1888-396-0208 toll-free.

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How To Use Location And Class Tracking In QuickBooks?

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