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Using classes to track division-level profitability

If your business is split into multiple divisions, you may want to use classes to track those divisions separately. For example, each of your locations could be a different division (Headquarters, West Coast division, East Coast division), or the resources associated with each category of product you sell could be a different division (Widgets division, Gadgets division).

To set up classes for tracking income and expenses by division

  • Create a class for each division.

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

  • When you create an invoice, assign the appropriate division to the income in the Class column.

You can view the Profit and Loss by Class report to see your business income and expenses categorized into the divisions of your business. You may find out that one division is making money while another is losing money. Given this information, you can restructure or refocus your business to be more profitable.

See also

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