Add Classes to QuickBooks Online Transactions with LedgerDocs

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You asked for it and we designed it! Many businesses find it necessary to track separate parts of their business’ income and expenses in order to create better reporting and to have a more comprehensive idea of their business finances. The ability to add classes to transactions in QuickBooks Online is one way to do this, and now, you can add a class to your transaction, all from within LedgerDocs!

Class Tracking is commonly used as a placeholder for Job Costing, and allows for users to specify a class for each detail line item of a transaction. For example, a construction company may have won a new contract and the client has signed off on the proposal. Once the Estimate has been accepted, you can now add a class, for example “Job 123”. At this point, you are able to record expenses to specific classes which enables the use of reports including Budget vs. Actual (ie. Estimate vs. Actual), Profit & Loss by Class, and Sales by Class reports. The Sleeter Group wrote a great article detailing the process of creating classes in your QuickBooks Online Plus account.

 

As you can see, LedgerDocs users are now able to add a class to each line item of their bill, invoice, or expense. Simply choose what type of transaction you are posting and select the class as necessary.

Find us on the QuickBooks App Store or Attend A Webinar today!

 

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