How to Use Class Tracking in QuickBooks Online - My Cloud Bookkeeping

[@terisaclark806]

Excellent example of using class! Is there a way to run a report that shows "equity" (accumulated income/loss) by class?

[@MyCloudBookkeeping]

Hi Terisa, delighted to help! You could run your income statement by class over a longer period, otherwise it is a balance sheet account, and won't show up under your class reporting.

[@crystalmendoza857]

Hi, is this an option on all QB online products? I looked on QB essentials and was not able to find that option in my settings but classes were an option in my previous desktop version so I'm confused

[@MyCloudBookkeeping]

Hi Crystal, classes are only an option in the Plus plan in QuickBooks Online. To see what is in each of the plans I have a post that may help: www.mycloudbookkeeping.org/quickbooks-plan-comparison Yes, it was available in desktop automatically. The plans can be confusing. Let me know if I can be of further assistance.

[@rajfidelis795]

Awesome explanation!

[@MyCloudBookkeeping]

Thank you :)

[@brianbuckingham3187]

Nice video, thank you

[@MyCloudBookkeeping]

My pleasure!

[@moonstar6694]

do you need to assign a different account number to each item that might be under the different classes? ...so COA might get quite long?

[@MyCloudBookkeeping]

Hi Moonstar - the classes won't impact your chart of accounts - the idea is that you can use your existing chart of accounts for income and expenses, and further break them out by class - an alternative to a super long COA. If that doesn't make sense let me know!

[@mohammadkhan7895]

I could never generate a report for a single class

[@MyCloudBookkeeping]

Hi Mohammad, if you filter the classes in the class report you should be able to get a report for a single class. Alternately export to excel and delete the columns you don't want to see! Hope that helps.

[@mohammadkhan7895]

@@MyCloudBookkeeping Thanks I noticed that after many days of trying to get what I wanted. Thanks.

[@MyCloudBookkeeping]

@@mohammadkhan7895 pleased you were able to work it out.