Question

Class tracking is used to categorize income and expense transactions from different sectors. What are 2 options for assigning Classes?A. Assign one class to each row in a transaction. B. Assign a class in Bill transactions only. C. Assign one class to an entire transaction. D. Assign a class in Sales Invoices only.

Answer 1

Answer:

A. Assign one class to each row in a transaction.

C. Assign one class to an entire transaction.

Explanation:

You can use class tracking in QuickBooks to categorize sales and expenses according to different locations, classes or even divisions. E.g. if you are a retailer, you can classify your sales by classes like men's, women's and children clothes. Or you can also track your sales by online sales or sales made on a brick and mortar location.

You can also assign one class to an entire transaction in order to determine if it resulted in a gain or a loss.