Location And Class Tracking In QuickBooks( Know How)

Location and class tracking in quickbooks is not a big challenge anymore, due to the 2019 updated quickbooks.  QuickBooks is a powerful financial accounting tool that lets small businesses maintain and keep track of their financial activities in an effective manner. Financial activities such as income and expenses, profit and loss, tax, reports, invoice, etc., can now be easily tracked with the help of QuickBooks. A very useful feature among many is quickbooks online class and location tracking.

To get into details, the location and class tracking feature in QuickBooks provides standard account-based tracking in QuickBooks. Thus, QuickBooks accounting software tool offers a user-friendly method for setting up and executing class tracking. The purpose of this feature is to assist you with the efficient management of your business. In QuickBooks, a class supports your business with different departments or locations through report account balances for each department. If you want easier expenses or greater control over expense categorization, then using class tracking is much more beneficial for your business.

Quickbooks is generally used for payroll and there feature, to get a right accounting, you have to understand quickbooks payroll class tracking. You can also get a quick status to get the best results.

In this article, we will show you how to use location and class tracking in QuickBooks and make your business activities manageable.

More About Using Location and Class Tracking in QuickBooks

The location and class tracking feature built into QuickBooks helps you manage or execute reports of profit and loss and even filter reports like accounts receivable and accounts payable through the class. For instance, the class can be used for tracking the landscaping business with a maintenance and installation division separately. Class and location tracking is pretty much an effective feature that you will find in QuickBooks.

A lot of times, users and small business owners read online about the location and class tracking and often have questions on their minds – How to use class tracking in QuickBooks Online? How to set up classes? Quickbooks class list report? What is location tracking and how to use it in QuickBooks? If you have similar questions as stated here, then you are at the right place to help you find solutions without any hassle.

Simple Steps To Create Classes In QuickBooks Online

Given below are simple steps that will allow you to create classes in QuickBooks Online.

Steps:

  1. Open QuickBooks and login to your account.
  2. From the main page of your QuickBooks application, click the Edit menu and choose Preferences.
  3. Select the Accounting preferences sub-category in this menu to access class tracking options.
  4. Click the Company Preferences tab, then select Use class tracking for transactions.
  5. Click OK to enable class tracking for your QuickBooks Online account or through the desktop application.
  6. From the top menu, select Lists, then click Class List to set up class categories for your expenses.
  7. Click the arrow next to the Class button at the bottom of the page.
  8. Select New to create a new class category, assign class to account.
  9. Enter a name associated with the class in the Class Name textbox.

Note: The class you are creating can be further broken down. Enable the Subclass of option under Class Name and input the relevant information.

Common Mistakes Users Make In Class Tracking

Classes can be useful for workarounds: Focus on main work and assign the class of each transaction because you work on many items on an account without listing them properly.

Balance sheet by class: If you want to learn more about the balance sheet, you can search for balance sheet by class in QuickBooks as it gives you the detailed information. Class report manages the QuickBooks balance sheet.

Chart of account and classes: Classes are different from a chart of accounts. In business, one mistake mostly occurs that uses classes to track projects or events because they are not sure where to track expenses.

Use classes on posting transactions: Assigning a class to every posting transactions. For example, when you give the bill of a product or service via invoice to your customer, the invoice is thus, posting transaction, while you assign the class for the invoice.

Run a profile and loss unclassified report: When you make the profit and loss reports, assign the class before making your reports. It’s a simple way and memorizes the class of profit and loss.

Setup And Work With Class And Location Tracking In QuickBooks

Class tracking tracks the different reports in a one-time manner. You can use the location or class tracking according to your business. Through this setup, your work of quickbooks class list report & QBs assign class to item, the current status view becomes too easy. After following this step if you face any problem in implementation Dail our support number for fastest response. 

Step 1: Turn on class tracking or location tracking in settings.

  1. Click the Gear icon at the top, go to Account then click Settings.
  2. Select Advanced.
  3. In the categories section, select the Edit icon.
  4. Choose the category you want to enable and select the settings for that category.
  5. Click Save.

Step 2: Create class or location categories.

  1. Click the Gear icon at the top, then select All Lists.
  2. Choose Classes or Locations.
  3. Select New at the top.
  4. Enter the information.
  5. Click Save.

Step 3: Edit or delete class or location.

  1. Click the Gear icon at the top, then select All Lists.
  2. Choose Classes or Locations.
  3. From the drop-down list under the Action column:

To Edit:

  • From the drop-down list, choose Edit.
  • Edit the desired information, then click Save.

To Delete:

  • From the drop-down list, choose Delete.
  • At the message that says Are you sure you want to delete?, click Yes.

Therefore, you can connect with us for the quick solution of location tracking in QuickBooks desktop. Sometimes, class tracking in QuickBooks online becomes very difficult to understand, to resolve this question follow the right guidelines. You can also connect with us by dialing our provided support number.

Contact Bizimatrix For Support

The solution given above is for how to set up and use location tracking and class tracking in QuickBooks. If you need assistance or have questions, contact our QuickBooks help-team and with the QuickBooks experts at Bizimatrix. Our QuickBooks Online support services are rendered 24×7. 

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