QuickBooks Class Tracking
Anytime you want to separate 2 or more entities in Quickbooks for reporting purposes, then it’s best if you use Quickbooks Class Tracking to help you separate financials and get side by side comparison reporting. This can be done for individual, sole proprioter, and even LLC’s. However, you can’t Co-mingle personal with a Corporation.
Class Tracking in Quickbooks
This video tutorial will guide you through the process of setting up the preferences for starters.
Setting up the Classes would be next which we decided to separate West Coast and East Coast divisions.
We then do sales receipts transactions to account for some income in both classes, and repeat the process under making payments to account for expenses. Lastly we dive into reporting and look at the side by side comparison for all Quickbooks class tracking that we did throughout the process. This is just a glimpse of what can be done, but the idea is here.
The Quickbooks video lesson above will help lead you the way for Class Tracking for multiple offices, divisions, etc..
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