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Apc9
April 20, 2022
Question

Best way to allocate overhead monthly?

  • April 20, 2022
  • 1 reply
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Is there any feature in quickbooks that allows this? For example, we use classes. At the end of each month, I have to go in an alloate the totals from certian classes (such as Company-Wide Overhead base don Headcount, or Services-Only Overhead based on % Revenue, for example) to the profit centre classes. Is there a way I can use the "Reclassify" to reclassify all transacitons in one class to many other classes based on %s i enter for allocations by class?

1 reply

Jen_D
Jen_D
April 21, 2022

Thanks for reaching out to the community, @amor_cadmakers.c.

 

I want to share some insights about this class reporting concern in QuickBooks Online.

 

If you want to allocate a certain transaction or entire amount to multiple classes, this is something the program can't do at the moment. In QuickBooks, you can assign classes for the entire transaction or break it down by line items.

 

If a certain transaction needs to be assigned for a class, you need to divide the amounts for each line item then assign the class afterwards. Otherwise, just use one category for everything.

 

To assign one class for one entry:

 

To assign a transaction to different classes by amount:

 

 

For more reclassification options, you'll need to seek help from an accountant with QuickBooks Online Accountant file. Thien, they can use this link to reclassify entries in the program.

 

Here are some links about classes and how to use them in QuickBooks Online:

 

I'll be right here if there's anything else you need help with QuickBooks classes and reporting. Give me a quick message. Have a nice day!

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