How to Set up and Use Class Tracking in QuickBooks Desktop?

by Andrew Walker Accounting, Bookkeeping Services and Training by E

Looking for the process to set up and use class tracking in QuickBooks Desktop? Well, your search ends with this post. If you want to go beyond standard account-based tracking in QuickBooks, extending Class Tracking is one of the best options. This gives you a customizable way to track specific expenses, categorize expenses shared across multiple accounts, and manage accounting for one-time and non-recurring expenses. One of the key benefits of class tracking is that it provides greater control over cost classification, making it much easier. This blog is entirely focused on how to set up and use the class tracking feature in QuickBooks in the best possible way. So, make sure you follow the blog till the end. For further queries and questions, you have you call us at +1-800-910-3136. Our certified experts will get in touch with you to resolve your problems. Our technical support team will be happy to assist you.

Steps to set up class tracking in QuickBooks

Let us walk you through the steps to set up class tracking in QuickBooks Desktop. Make sure you follow the steps with special attention and do so carefully.

Step 1: Enable class tracking

Before looking at the sub-steps to enable class tracking, there are some indicators to consider:

·         You only need to set up your account and withhold taxes once. Next time you want to calculate withholding tax, just use the existing withholding tax entry.

·         Configure the layers based on the type of reporting you want to perform and consider how you want to view business segments in the report.

·         Finally, set up an “other” class to classify miscellaneous transactions, i.e. transactions that don't fit anywhere.

Steps for Windows users:

The steps to enable class tracking in Windows are as follows:

·         The first thing is to open the company file.

·         Then go to the edit menu, also select the preferences option.

·         The next step is to select Accounting and then navigate to the company options tab.

·         Once completed, check the Use layer tracking for transactions box.

·         The final step is to click the OK tab.

Steps for Mac users:

The steps for Mac are quite different from the steps for Windows.

·         If you are a QuickBooks for Mac user, you must first go to the QuickBooks menu and select the preferences option.

·         Then, select the transaction in the workflow section. Next, check the Use layer tracking box. Alternatively, close the options page to save your changes.

Step 2: Set up class categories for expenses and accounts

Now comes the second step where you need to configure class categories for expenses and accounts.

For Windows users:

·         Windows users should go to the List menu and select Class List.

·         Then, select the new option from the layer drop-down menu.

·         The next step is to enter the class name.  And also, if it's a subclass then you need to select the checkbox subclass and then search for that class.

·         The final step is to click OK to add it.

For Mac users:

·         Access the List menu and then select Layers.

·         Then, select the Create option.

·         The next step is to enter the class name. Also, if it's a subclass, make sure you check the subclass checkbox and search for that class as well.

·         The final step is to click OK to add it.

Conclusion:

As we end up this blog we hope that the information given is helpful for you. Also, the steps given above will help you set up and use class tracking in QuickBooks Desktop. For the smooth working of your software, it is essential to resolve this issue as soon as possible. However, if you are stuck while applying the fixing methods given above you can contact our customer support team. Our QuickBooks enterprise support team will assist you immediately. To contact our QuickBooks experts call us at +1-800-910-3136.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Oct 19th 2023 04:14. Viewed 71 times.

Comments