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Using classes to track departmental spending

If you want to track costs by different sectors of your organization, you can set up classes for each of your sectors (departments). For example, you might split your business into the following departments:

  • Accounting/finance

  • Marketing

  • Sales

  • Administration

  • Shipping/receiving

One reason to track costs by department is to ensure that each department is accountable for cost comparisons to budgets. To track this information, you would first set up a budget by department and then track costs by department.

To set up departments as classes for tracking expenses to budgets

  • Create a class for each department.

  • Establish a budget for each income, cost of goods sold, and expense account for each department.

    You may want to work with key members of the organization to establish budgets. For example: the sales department will have input on whether or not they will need to visit with clients and if so how much it will cost to do that. The administration department will have input on how much they will be spending on office supplies. The marketing department will have input on advertising expenses. Involving each department in planning makes it more accountable for its own expenses and staying within budget.

  • When you enter bills into QuickBooks, assign the appropriate department to the charges in the Class field.

See also

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