Classes

You can set up class tracking so that you can find…data for your income and expense accounts based on certain classes.…For example, you may have two physical locations, such as an uptown shop…and a downtown shop, and want to track how much each one makes separately.…Or you may have two different types of services,…one based on corporate and commercial, and one for residential.…You can label invoices and other transactions based on class.…And then to access the results of your…class placement, you can run a profit and loss by class…report, which I'll show you how to do in a later video.…

You can set up your classes based on the things that are meaningful to you.…Before you can use class tracking, though, you have to enable it in Preferences.…To do that, select Edit > Preferences, change…to the Accounting section and then click Company Preferences.…Place a checkbox next to Use Class Tracking For Transactions.…And it's up to you to decide whether you want to prompt to assign classes.…You don't have to, but it'll be helpful for you…