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ctalynema
January 30, 2023
Question

Non profit w/multiple projects & grantors who fund proj. sometimes multiple grantors fund big proj. what is best way to track with classes, projects, locations turned on?

  • January 30, 2023
  • 1 reply
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Example - big job (better word) with 3 grants to complete. Each grant has its own class, would it be better to create the job as the class and then have a project for each grantor that points to the class? I want to use time tracking for jobs also.

1 reply

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Archie_B
January 31, 2023

Good day, ctalynema.

 

I'm here to share some information about class tracking and projects in QuickBooks Online.

 

Projects feature helps you track your income, expenses, and profitability by project. You can also use classes to track your transactions by departments, product lines, or any other meaningful segments in your business. That said, both feature has it's own functionalities for specific tracking and reporting needs.

 

 

If you'd like to track funds by class , you'll need to turn on class tracking first. I'll show you how to do it.

 

Here's how:

 

  1. Go to Gear ⚙ icon, then Account and Settings.
  2. Click on Advanced, then pick the Categories section to edit.
  3. Check Track classes.
  4. Check Warn me when a transaction isn't assigned a class. This is optional, but it's good to turn on, so when you look at reports, you know everything got classified.
  5. Under Assign classes, select One to entire transaction or One to each row in transaction.*
  6. Hit Save, then Done.

 

I've added these article to learn more about the class tracking feature: Get started with class tracking in QuickBooks Online

 

Also, project feature already includes tracking of your labor costs. See this link to learn more: Track hourly labor costs and profitability by project in QuickBooks Online.

 

Feel free to leave a comment below by clicking the Reply button if you have concerns or other questions about managing projects. Have a wonderful week!

C
ctalynemaAuthor
January 31, 2023

Thank you, I used both projects and classes before and I know I am over thinking this.  So that I can get out of my head... I have a project - Dam Removal, I would create a class called Dam Removal and I have two grantors that cover the expense of the Dam Removal and have reporting requirements I can use a Project for each grantor that would give me the reports for the grantor and a then the Class tracking report that will give me the total Dam Removal reporting.  Again, I think I am just in my head because I inherited a manual tracking system. 

 

Time tracking - I have quickbooks time and we have never used it so I have to set that up but need to get my projects and classes set first I believe.  Is there a process of set this up before that kind of a option available? 

 

Thank you!

Colleen

    JessT
    JessT
    January 31, 2023

    Thank you for getting back to us, ctalynema.

     

    You can enter Dam Removal as a project and add each grantor as a class. That way, you can assign a class to the transactions. For example, if you rent an equipment funded by Grantor A, you can tag Grantor A in the transaction. However, the Project feature doesn't have a report that shows the associated transactions to classes. For this reason, I recommend finding a third-party app for reporting purposes.

     

    The only reports you can use is the class reports.

     

    1. Click the Gear icon.
    2. Choose All lists.
    3. Click Classes.
    4. Click Run report on a specific class.

     

    On the other hand, I encourage you to submit feedback to our product development team. That way, they can add a report option that can be used on projects with classes.

     

    1. Click the Gear icon.
    2. Choose Feedback.
    3. Enter your suggestion and click Next.

     

    Feel free to go back tot his thread if you have other questions in mind.

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