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Retail sales class examples

With QuickBooks, you can separately track different departments, locations, product lines, or profit centers by using classes. If you use classes to separate your transactions, you'll be able to create several reports that help you focus on each class. For example, you can use the Profit & Loss by Class report to see the revenue and expenses for each class. If you want to break down your income and expenses even further, create subclasses. If you decide to use classes, you can set them up all at once or "on the fly."

Important: Do not use classes for more than one purpose. For example, don't create classes for tracking store locations as well as for tracking product lines.

You can use classes to:

  • Track income and expenses for each of your store locations:

    To track your income and expenses separately for each store location, you should set up a class for each store location.

    • Store1

    • Store2

  • Track income and expenses for each of your product lines or departments:

    To track your income and expenses separately for each of your product lines or departments, you should set up a class for each product line or department.

    • Garden

    • Hardware

    • Tools

You can also use items and subitems for tracking the sales of products in groups. However, use classes if you want to track income and expenses for items.

Examples:

  • Sporting Goods Store

    In a Sporting Goods store, you may want to divide your merchandise into departments and track income and expenses by class. If so, you can create a class for each of your departments:

    • Bicycles

    • Fishing equipment

    • Hunting equipment

    • Golf

    • Tennis

    • Ski equipment

    • Exercise equipment

    • Water sports equipment

    • Camping and backpacking equipment

    • Team sports equipment

  • Restaurants

    In a restaurant, you may want to divide your business into profit centers and track income and expenses by class. Then you can create a class for each of your profit centers:

    • Restaurant

    • Take out

    • Bar

  • Apparel Stores

    In an apparel store, you may want to divide your merchandise into departments and track income and expenses by class. Then you can create a class for each of your departments:

    • Infants wear

    • Children's wear

    • Boys

    • Girls

    • Misses

    • Mens

    • Womens

See also

KB ID# H_RET_CLASSES_EXAMPLES
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