How to use QuickBooks Class Tracking?

by James Antonio

One of the key features of QuickBooks is to play an ancillary role in tracking the expenses and income of your organization. But at times, the need would be arising to move further to the basic account-based tracking performance.

To excel for this objective, QuickBooks class tracking becomes quintessential. The QuickBooks online class tracking tools are specifically designed to be user-friendly and allows you have better control over the various categorizations under expenses.

It is also known to be time-saving and increases efficiency output.

What is QuickBooks Class tracking?

The main element of the QuickBooks Class Tracking tools to assist you in providing a personalized way of tracking certain expenses, managing accounts, evaluating frequent expenses, and categorization expenses that are being shared across multiple accounts and are not associated with a specific type of account.

On QuickBooks, one can easily create classes for specific transactions that are necessary to be grouped exclusively. Once done, you would be able to track each of the account balances by their labels such as office, department, location, and other associative properties you are entitled to.

Undoubtedly, QuickBooks Class Tracking helps you to organize your business in a much more efficient manner.

How can I turn on Class Tracking Tool on QuickBooks?

This article would further guide you in detailed steps to enable the class tracking tool on QuickBooks:

Step 1: Browse to the ‘Preferences’ section under the Edit menu.

Step 2: Tap on the ‘Accounting’ icon.

Step 3: Take your cursor to the Company Preferences.

Step 4: Locate the Use Class Tracking box and check it and click OK.

Step 5: Move to the Menu Section and select the lists which you wish to track.

Step 6: Tap on the ‘Class List‘ option that helps you to set up categories for the expenses.

Step 7: Select ‘New‘ for creating a new class.

Step 8: Choose your desired expenses for the new class created in Step 7.

Step 9: Add a name related to the specific class which you created and finish the procedure.

After you have created the classes, you now need to understand the complete utilization of the tracking class tool for your transactions.

Here are the steps to follow the same:

Step 1: Open ‘Blank Invoice‘ and select a customer.

Step 2: Locate the class field next to the customer’s name.

Step 3: Tap on the drop-down list and choose the invoice of your interest (This step is to be followed only when an entire invoice is allocated to the same class). Allocation of separate classes individually for each of the line items is also possible.

On QuickBooks, one thing that you must remember is that not every invoice template would be including a column for the classes.

However, it possible to add on the templates by choosing the invoice form which you would be wanting to change and select the ‘Customize’ option under the Toolbar.

Once you have performed this, next you would be able to add classes designated under the column section. But to ensure this, make sure that the window for customization data layout is open.

How to Create Types on QuickBooks Class Tracking?

Very similar to the creation of classes, the steps involved for creating types fall along the same line. The steps involved to create Types on QuickBooks Class Tracking is mentioned below:

Step 1: Move to the Lists Section and hit the Customer & Vendor Profile Lists, and choose the ‘Type’ which you want.

Step 2: Repeat the same instructions that were specified for creating classes.

Note: the ‘types’ don’t appear on any transactions and are mostly created for personal use, thereby saving it in the documents.

Hope this elaborative article has now guided you effectively in how to take leverage of the class tracking tool on QuickBooks.


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What are the kind of Reports I can fetch from the Class Tracking Feature?

Majorly two kinds of reports can be found on QuickBooks and are dedicatedly designed for tracking the class-based transactional activities; these are Profit & Loss by Class and Balance Sheet by Class.

How can I fetch Reports from QuickBooks for class-based transactional activities?

For fetching reports from QuickBooks for class-based transactional activities, follow the steps mentioned below:

Step 1: Locate Reports menu under ‘Company & Financial’ section.

Step 2: If you wish to filter for other reports for incorporating a class column, you need to create a QuickReport for individual classes.

Step 3: For creating a QuickReport for individual classes, browse to the Lists section and choose Class List. Tap on a graph or report.

To what kind of Transactions I can Add a Class on QuickBooks?

Assign a Class on QuickBooks for Following Transactions

Assigning a class on QuickBooks can be done for the following types of transactions:

Invoice
Sales receipt
Estimate
Sales order
Statement Charges
Refunds and credits
Check
Credit card charges
Bill
Purchase order
Paycheck

Can I use Classes for Multiple Categories?

No. Do not use classes for multiple categories. For eg. If you are using classes for a specific department, make sure that you do not use classes for various locations.

Features of Dancing Numbers for QuickBooks Desktop

Imports

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Deletes

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Customization

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Dancing Numbers supports all QuickBooks entities that are mentioned below:-

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Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


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XLS, XLXS, etc., are supported file formats by Dancing Numbers.


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Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


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How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

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Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Worried about losing time with an error prone software? Our error free add-on enables you to focus on your work and boost productivity.

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