How to Add Items to Your QuickBooks 2011 Item List
How to Set Up Additional Users in QuickBooks 2011
How to Set Up the Chart of Accounts List in QuickBooks 2011

How to Turn on Class Tracking in QuickBooks 2011

QuickBooks 2011 lets you use classes to segregate or track financial data in ways that aren't possible by using other bits of accounting information, such as the account number, the customer, the sales rep, the item, and so forth. A firm can use QuickBooks classes, for example, to segregate financial information by stores, business units, or geographical territories.

To turn on Class Tracking in QuickBooks, follow these steps:

  1. Choose the Edit menu's Preferences command.

    QuickBooks displays the Preferences dialog box.

  2. Click the Accounting icon, which appears in the list box along the left edge of the Preferences dialog box

    image0.jpg
  3. Select the Use Class Tracking check box to turn on Class Tracking.

    You may as well also select the Prompt to Assign Classes box so QuickBooks reminds you to use the classes.

  4. Click OK.

    From this point forward, QuickBooks adds a Class drop-down list to the Windows dialog box that you use to record revenues and expenses (such as the Create Invoices window, the Write Checks window, the Enter Bills window). All you do is tag transactions as they fit into a particular class.

After you turn on Class Tracking, using classes is really straightforward. You set up classes for the product lines or service lines for which you want to measure profitability. You classify transactions as fitting into a particular class either as they're recorded (if you can) or after the fact.

  • Add a Comment
  • Print
  • Share
blog comments powered by Disqus
How to Modify and Customize a Report in QuickBooks 2011
How to Navigate the Vendor Menu in QuickBooks 2011
How to Use the Report Window in QuickBooks 2011
How to Reconcile Your Bank Account in QuickBooks 2011
How to Set Accounting Preferences in QuickBooks 2011
Advertisement

Inside Dummies.com