What s a Class?

What's a Class?

A class is an optional tool you can use to identify income, expense, and payroll transactions that belong to a particular group.

Does your company have locations, divisions, departments, funds, or other areas that it needs to track separately? Perhaps you want to track income by the person who does the work (typical among lawyers, accountants, salespeople, and other professionals) for purposes of paying commissions and bonuses or to judge performance.

Or your company might engage in several distinct types of businessfor example, a construction company that performs both residential and commercial constructionso it is beneficial to track the performance of each type of work.

If these or other scenarios apply to your company, you can use the QuickBooks class feature and report on each area of your business separately.

You have the option of setting up subclasses of classes, so as to further classify and separate income and expenses.

For example, a law firm that practices in the areas of criminal law, family law, and personal injury might want to have a class for each of these types of law and then a subclass for each attorney. That way the firm can create reports that show how the family law practice as a whole is doing, another report showing each lawyer within the family law practice is performing, and so on for each area of law and each attorney.

Show Me. QuickBooks 2006
Show Me QuickBooks 2006
ISBN: 0789735229
EAN: 2147483647
Year: 2005
Pages: 328
Authors: Gail Perry

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