Classes are the way to categorize and group transactions, which may later be used in reporting. They may be applied to Sales Quotes, Sales Orders, Sales Invoices, Credit Memos, Projects, Time tracking entries, Purchase Orders, Bills, Shipments, Assembly Builds, and Purchase Returns. Some examples of ways classes can be used to group transactions:
- Department in a company (Business Units).
- Sales teams.
- Lines of Business.
- Separate companies in one account all under one Tax Registration Number (TRN) or Tax Identification Number (TIN).
- Contracts
Classes represent meaningful segments in your company, such as store departments or product lines. Once class tracking has been enabled, create a class for each business segment. You can then organize your customer and vendor transactions by class, thereby gaining greater insight into your sales, expenses and profitability by business segment.
Enable accounting by Classes #
- Navigate to Lists – Chart of accounts.
- Open each account, that will be affected by the Class postings and tick the toggle Accounting by classes.
Another option to group transactions are Projects / Jobs.