The classes feature of QuickBooks allows tracking various kinds of management information in QuickBooks transactions, and ManagePLUS depends on classes for providing some of its more advanced management information reporting. For this reason, using classes is an important part of making use integral to many of the more advanced reports provided by ManagePLUS. This topic introduces the general idea of classes and where to find more information about using them, and tells how to enable the classes feature in QuickBooks.
Briefly stated, QuickBooks’ Classes list is like a second set of accounts which you can apply to transactions, which allows you to track information that is independent of the financial and tax-related categories provided by the Chart of Accounts. This gives you a second way to group or categorize transaction data to provide useful information about the management units of your business; that is, management information as opposed to merely financial accounting information.
We don’t have space here to explain all you might want to know about Classes. You can learn more by visiting our Web site: the Articles area has tutorials on setting up and using Classes in QuickBooks. And The QuickBooks Farm Accounting Cookbook™ goes into even significant detail about using Classes in farming and ranching.
Articles about classes: http://www.goflagship.com/articles/
The QuickBooks Farm Accounting Cookbook™: http://www.goflagship.com/products/cbkhome.htm
One way to enable classes is during initial setup of your QuickBooks company file, in QuickBooks’ Easy Step interview. But if you didn’t enable classes then, it’s easy to turn on the classes feature later. Here’s how:
Click on Lists in the main menu and look for a Class list item in its submenu. If you find one, the classes feature is already enabled and you don’t need the rest of these steps.
The Preferences window will open.
After completing these steps a Class column will appear in many of QuickBooks’ forms and windows. In some cases, such as for invoices, you may have to customize the form’s template to have the Class column displayed.