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D
Deadwood Al
October 3, 2024
Question

Classes & Bank Feeds

  • October 3, 2024
  • 1 reply
  • 0 views

We are planning to implement Classes to identify unique events that generate revenue and incur expenses, and it occurs to me that several of the expenses may come from credit card charges. When we download the credit card charges from the bank and then allocate out those charges to various GL accounts, I'm wondering if "Class" will show up on the screen used to identify where to direct the charges that appear on the bank feeds. If not, that is going to be a serious time issue to go back later and update each of the entries with a class entry. Since we are not now using Class, that field doesn't appear on our invoices or anywhere on our system currently, so I can't tell if it should be appearing when we work with data from bank feeds. I would imagine that this is not unique to us and that many users who do utilize Class have the same issue with credit cards, so ...?????  

 

Thanks in advance for any input or suggestions.

 

 

1 reply

M
Maybelle_S
October 3, 2024

Thank you for sharing your thoughts about implementing classes for your revenue and expense tracking, Deadwood. It’s great that you’re thinking ahead about this process. Let’s explore how classes can work with your bank feeds and find the best approach for your needs.
 

In QuickBooks Desktop (QBDT), the option to assign classes to bank transactions, including credit card charges, is unavailable. When you download bank transactions, they do not come with a class assigned to them. You can manually add the class to each entry when categorizing the transactions. I can guide you on how:

 

  1. Go to the Banking menu.
  2. Hover over Bank Feeds and select Bank Feeds Center.
  3. Choose your account.
  4. Tap Transaction List.
  5. Select the transaction you want to categorize.
  6. Assign a class from the drop-down arrow.
  7. Pick an ACTION from the drop-down arrow.
  8. Follow the on-screen steps to finish.
     

You can also create rules to help QuickBooks match your Bank Feeds transactions.

 

For more details about class tracking, see this link: Set up and use class tracking.

 

Lastly, you can reconcile your account to ensure the accuracy of your books.


Feel free to add a comment below if you have any more questions about assigning classes in QuickBooks. I want to help more.

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