Was this page helpful?
Thank you!

Comments or suggestions?



Enter Email Address (optional)
email

Using classes to track segments of your business

QuickBooks classes give you a way to categorize and track account balances by department, business office or location, separate properties you own, or any other meaningful breakdown of your business. For example, if you sell different product lines, or products from more than one manufacturer, you can use classes to track the proportion of your income and expenses related to those different product lines.

Use classes for one purpose only. For example, if you use classes for departments you shouldn't use classes for store locations.

Examples

  • Accounting firms

    As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances for each partner, by setting up each as a separate class.

    • Analyze the account balances for each location, if you have offices in more than one location. Make each business office a separate class.

    • If your firm does more than one type of work, you can create classes for each type. For example, create one class for tax work, another for audit work, and a third class for consulting.

    If you want to break down your account balances even further, you can create subclasses.

  • Advertising and public relations firms

    As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances for each account executive's projects, by setting up each account executive as a separate class.

    • Analyze the account balances for each location, if you have offices in more than one location. Make each business office a separate class.

    • Analyze the account balances for each line of business, if your business involves several main types of work such as "advertising" and "public relations." Make each type of business a separate class.

    If you want to break down your account balances even further, you can create subclasses.

  • Architectural firms

    Your firm may do business in a variety of areas. As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances for each project manager's projects, by creating a separate class for each project manager.

    • Analyze the account balances for each location, if you have offices in more than one location. Create a separate class for each business office.

    If you want to break down your account balances even further, you can create subclasses.

  • Construction companies and contractors

    Classes give you a way to track different segments of your business and to break down your account balances for each segment. Classes can apply to all transactions, so they are not tied to a particular client or job.

    Division-level tracking for general contractors

    Many general contractors want reports that itemize account balances for each construction division on their jobs. Classes give you an easy way to track how well you managed income and expenses, and how well you estimated in each of those areas or divisions.

    If you set up classes for construction divisions, you can get an Item Profitability report that shows your revenue and cost by class.

    Classes for remodeling and specialty contractors or subcontractors

    Remodeling and specialty contractors or subcontractors may want to use classes in other ways:

    • Use a subset of the construction divisions that is appropriate for your business. For example, a plumbing contractor might have classes called Rough and Finish to distinguish rough plumbing work from finish plumbing work.

    • Use classes for tracking project supervisors. For example, contractors who have more than one project supervisor might want to create a separate class for each project supervisor, so they can compare profits for each supervisor. (For each supervisor you have, create a class with the supervisor's name.)

    And, if you want to break down your account balances even further, you can create subclasses.

  • Consulting firms

    As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances related to each consultant by setting up each consultant as a class.

    • Analyze the account balances for each location, if you have offices in more than one location. Make each office a separate class.

    If you want to break down your account balances even further, you can create subclasses.

  • Graphic design, writing, photography, and printing firms

    As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances related to each partner's customers, by setting up each billing partner as a separate class.

    • Analyze the account balances for each location, if you have offices in more than one location. Make each office a separate class.

    • Analyze the account balances for each line of business. If your business involves several main types of work, such as printing and design, make each line of business a separate class.

    If you want to break down your account balances even further, you can create subclasses.

  • Medical offices

    You may want to use classes to track account balances for each partner. As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances related to each partner by setting up each partner as a separate class (for example, a landscaping business owned by two partners).

    • Analyze the account balances for each location, if you have offices in more than one location. Make each business office a separate class.

    If you want to break down your account balances even further, you can create subclasses.

  • Membership organizations

  • Real estate brokers

  • Restaurants and bars

    If you have a larger restaurant business, you may have more than one location. Or, you may have a large catering business in addition to on-site meal preparation. At the end of a period, you can create a Profit & Loss by Class report to show all account balances for each of your classes. And, you can create a Balance Sheet by Class report to show a balance sheet for each of your classes

    • Track account balances at each of your restaurant locations.

    Location1

    Location2

    • Track account balances for each of your profit centers.

    Restaurant

    Bakery

    • Track account balances for each type of business you do.

    Catering

    Restaurant

    If you want to break down your account balances even further, you can create subclasses.

  • Retail sales

    As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    • Track account balances at each of your store locations:

    Store1

    Store2

    • Track account balances for each of your product lines or departments:

    Garden

    Hardware

    Tools

    If you want to break down your account balances even further, you can create subclasses.

  • Sales representatives

    As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances for each product line you sell, by setting up each product line as a separate class.

    • Analyze the account balances for each manufacturer you represent, by setting up each manufacturer as a separate class.

    If you want to break down your account balances even further, you can create subclasses.

  • Services (that bill weekly/monthly)

    You may want to use classes to track account balances for each partner. As you enter transactions, you indicate the appropriate class for each transaction. At any time you can run reports to view the account balances for a given class.

    Use classes to:

    • Analyze the account balances related to each partner by setting up each partner as a separate class (for example, a landscaping business owned by two partners).

    • Analyze the account balances for each location, if you have offices in more than one location. Make each business office a separate class.

    If you want to break down your account balances even further, you can create subclasses.

  • User groups

  • Wholesale

See also

KB ID# H_CLASSES_EXAMPLE_OV
11/22/2014 9:42:38 PM
QYPPRDQBKSWS01 9102 Pro 2013 94c0c1