Using The Class Tracking Tool In QuickBooks Online

Using The Class Tracking feature in QuickBooks online gives you the ability to track income and expenses by class. It’s great because tracking by class gives you great insights in to how well you are doing, and it will generate a “profit and loss by class” report that will show you more about your company’s operations. You can activate the class tracking tool from the cog wheel and the list of lists. Then you can add classes to the class list so when you make a transaction, you can record the class data and see how Q.B.O. will sort your transactions by class. Adding classes and assigning classes to transactions is very easy with this special tool. In our example we use it to separate taxable income and deductible expenses, from things that go on the tax return. However, you can track classes and class reports in any way that suits and benefits your own business. This video is part of the QuickBooks Online For Home Finance course coming soon here on YouTube. It is part of this channel that acts as a library of QuickBooks Online knowledge and is designed to teach everybody everywhere QuickBooks Online for free!! Table Of Contents………… Chapter 1 00:00 Introduction To Class Tracking Chapter 2 00:33 Using The Class Tracking Tool; What Does It Do? Chapter 3 02:00 Classes For Estimating Taxable Income Chapter 4 04:30 What Is Missing Before Activating The Class Tracking Feature? Chapter 5 05:00 Activating The Class Tracking Tool Chapter 6 06:25 Managing The Class List Window Chapter 7 07:09 Adding Classes To The Class List Chapter 8 08:43 Profit And Loss By Class Report Chapter 9 09:58 First Example Class Transaction Chapter 10 14:20 Danny Deadbeat Gets Free Peanuts Chapter 11 14:43 Second Class Tracking Example That full home finance course is coming soon but until then, first here is the old Q.B.O. Home Finance playlist. It has everything very clear but not fancy…….. https://www.youtube.com/watch?v=H5zcoHsTZLQ&list=PLqRhgBZfJuE7Q384t8vu8NZjcndmAimAz If you like Serena’s appearance at the beginning, here she is at 7 years old teaching accounting to the world…………………………………………… https://www.youtube.com/watch?v=NyRhgoqhitg&t=2488s Here are other videos you will probably need………………… Importing Transactions In To QuickBooks Online (Bank Feeds) Connecting To bank : https://youtu.be/rV92vEd7gpw Bank Reconciliation And Proving QuickBooks Correct… https://www.youtube.com/watch?https://youtu.be/nkz6d3D-8xY 👉Subscribe for more videos: http://bit.ly/thequickbooksdude ➡Follow us on social media: https://www.facebook.com/certifiedquickbookstraining https://www.facebook.com/QuickbooksForLandlords Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website. ➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course? Contact Mark directly. https://marksmolen.com https://quickbooksforlandlords.net #classtrackingtool #classtrackingfeature #quickbooksonlineclasstracking