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L
LPnewsmedia
February 8, 2023
Question

Setting up classes or parent customer/sub customer or both

  • February 8, 2023
  • 1 reply
  • 0 views

I am setting up Quickbooks for an entity that owns two newspapers.  Each newspaper has two sets of customers (advertisers and subscribers) as revenue stream.  I  need to track income and expenses for all four separately and collectively for reporting purposes    Invoices will also be produced for all these customers through QB.  Is it better to separate these as classes or parent/sub parent customers, or both?

 

1 reply

AlcaeusF
AlcaeusF
February 8, 2023

Hi @LPnewsmedia,

 

Thank you for posting here in the Community space. I'm here to share information about how you can track income and expenses in QuickBooks Online.

 

Open balances for sub-customers are part of the parent's account balance. Use sub-customers when you want to enforce a hierarchical relationship between customers.

Sub-customers can represent many things:

 

  • Jobs
  • Projects
  • Cases
  • Customer locations
  • Groups within a larger organization

 

Since you want to track income and expenses separately and collectively for reporting purposes, I recommend utilizing the Class feature. This way, you can keep a close eye on each segment in your business through the reports.

 

Also, you can run reports to see your sales, costs, or profitability by class. I've attached an article you can use to learn more about these reports and how to use this info to plan and set a budget by segment: Run reports by class in QuickBooks Online.

 

Don't hesitate to ask any questions you may have about the QuickBooks features. We're always ready to help you in this public forum. You can click the Reply button below to respond.

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