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K
KM402
July 28, 2022
Question

Classes for Bills and Payments

  • July 28, 2022
  • 1 reply
  • 0 views

What if I put in a bill with X for the Class - and then I put in a Check with the Account being Accounts Payable, and Y for the Class, and then apply this Check Credit to the Bill.
Which Class will QB use for reporting? X or Y? the one from the Bill or the one from the Check?
Will it make a difference whether I run a Accrual Report or a Cash Report?
Will it make a difference at all?

1 reply

BigRedConsulting
BigRedConsulting
July 28, 2022

It depends on what data is included in the report you're using. A bill payment check, for example, doesn't include any accounts that appear on a Profit & Loss report. Only the Bill might, or might not, if (for example) purchased only inventory item on it, which aren't expensed when you purchase.

K
KM402Author
July 29, 2022

So where might a bill payment check show up & I should be careful regarding the classes?

BigRedConsulting
BigRedConsulting
July 29, 2022

Well, it uses to balance sheet accounts, so its impact will appear on the balance sheet. Payments may appear on other reports as well, probably including A/P related or banking related reports.

 

I'm not sure if you need to be careful or need to enter the classes at all on these payments. It depends on what you are you hoping to gain by entering classes on transactions.

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