Understand the Concept of Classes in QuickBooks
Classes in QuickBooks help in the segmentation of your QuickBooks transactions. You can classify the transactions of your customers and vendors in an organized manner. This will help you in having a clear insight into the reports of expenses, customers, sales, vendors, purchase, and profitability. However, you should not add too many classes to your books of records. Because too many classes will create more confusion in your record book.
So it is recommended to create simple classes and avoid creating sub-classes in each class. Though, expanding classes in QuickBooks can give you various other customizable options. The main benefit of adding a class to your QuickBooks records is that you will have a greater degree of control over your expenditure in business. This blog will help you in adding classes to your QuickBooks Records.
How To Add Class in QuickBooks?
It is easy to understand reports when you have fewer classes in your records. Below are the steps that help you in creating or adding a class in QuickBooks:
- Please note that only the administrators or admins are allowed to create classes in QuickBooks.
- Navigate to the ‘Settings’ menu.
- After that, click on the ‘All Lists’ option.
- Choose the ‘Classes’ tab.
- Click on the ‘New’ option.
- Enter a name for this class, say Expenses.
- If you want to add a sub-class, you need to choose the ‘Sub-class’ option and then choose the main or primary class.
- Remember, you can only add up to five sub-classes in a primary class.
- Click on the ‘Save’ option.
- Now, you are able to track your expenses in class.
Also Read: How to set up loans in QuickBooks?
Steps to Delete a Class in QuickBooks
Sometimes, you might not need a particular class after it has been used. In some cases, you might have created a class by mistake and now you want to delete or remove it, then follow the below-given steps to easily delete a class in QuickBooks:
- Move to the ‘Settings’ menu.
- After that, click on the ‘Al Lists’ option.
- Choose the ‘Classes’ tab.
- Now, search for the class that you want to remove.
- Choose the drop-down small arrow that lies next to the ‘Run’ report, and select the ‘Make Inactive’ option.
- Click on the ‘Save and Close’ option.
Also Read: How to Delete Journal Entries in QuickBooks?
Steps to Restore a Deleted Class in QuickBooks
Sometimes, you might have mistakenly deleted a class in QuickBooks that contains important information about your expenses. In that case, you can restore a deleted class in QuickBooks very easily. You are just required to follow the below-mentioned steps:
- Navigate to the ‘Settings’ menu.
- Then, click on the ‘All Lists’ tab.
- After that, choose the ‘Classes’ option.
- Find and click the ‘Settings’ option that is located next to the ‘Print’ icon.
- Then, choose the ‘Include Inactive’ option.
- Search for the class that you want to restore.
- Click on that class and choose the ‘Make Active’ option.
- This will restore the deleted class in QuickBooks.
Essential Things To Remember While You are Adding Classes in QuickBooks
There are a lot of things that are crucial for keeping in mind while you are adding classes in QuickBooks:
- Make sure that you will not duplicate the charts of the accounts class. The classes are different reports as compared to charts of accounts in QuickBooks. Further, charts of accounts show your overall reports while classes represent the segmentation of a particular report.
- It is recommended to “name” the classes that you created. In this way, you will have an understandable report of each transaction. This will help you in making your reports more clear and simple.
- You should create Profit and Loss reports in a classified form. It depends on the purpose of the reports and the number of classes. You can also run the profit and loss reports that are filtered by the class. But, it depends on the other factors of the business too.
Also Read: QuickBooks TSheet Login
In Conclusion:
Hopefully, the above-given information is useful for you to get rid of this problem. But if you are still facing any issues with your software and need professional assistance, regarding accounting, bookkeeping & accounting software-related issues then feel free to get in touch with Certified Experts at +1-860-325-4922. The USA-based ProAdvisors will provide all sorts of assistance related to the software 24/7.
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