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CarolynStewart
March 16, 2023
Question

Trying to get an accurate Class Report in QBO

  • March 16, 2023
  • 1 reply
  • 0 views

I have been using QB Desktop for 20+ years, using Classes to keep track of projects and grants for my small nonprofit. I have just switched to QBO. Unfortunately, Classes is not working in the same way. When I write a check in QBO, I distribute the payment among different account categories (contract services, supplies, etc) and to different Classes (i.e., perhaps we're allocating expenses to 2 different grants). So far so good. However, when I go to run a report for one of the Classes, all the items that are expenditures when I write the check are showing up in the class report as income! So, instead of starting with a balance and subtracting expenses from this balance, all the "expenses" are added to the balance in the class report. Completely worthless as a way to track projects and grants for nonprofits!! I have spent over 2 hours on the phone with tech support and have been told that "this is just the way it works in QBO." Has anyone here had success in using QBO Classes to track projects or grants?

1 reply

MariaSoledadG
MariaSoledadG
March 16, 2023

I'll make sure to prioritize this function. Let me show you how you can send a request to our developers, Carolyn.

 

I can see the importance of being able to track classes to the correct account, Since this is how QuickBooks works, you'll want to send feedback to let our product team know how this is helpful for your business. 

 

You can visit our Customer Feedback page by clicking the Give feedback option. Once done, you can submit your request. I've attached a screenshot for your visual guide:

 

 

 

Furthermore, you may want to do some changes on your QuickBooks Online (QBO) account to better fit your business needs. Go through this article for more details: Configure An Account For A Non Profit Organization.

 

Please get back to us if you have any questions about classes. We're always here to help you anytime.

D
DCK2
August 12, 2024

We are hoping to find a way to track grants using QBO and I am wondering if anything has changed regarding Classes and how they can be used to report grant income and expenses? If not, is there an article or other help that would give us guidance in how to do so?

 

Thanks,

Dave K.

 

R
RheaMaeH
August 12, 2024

I appreciate you for chiming in this thread, Dave. I'm here to help track grants in QuickBooks Online (QBO) and to share insights on how classes can be used for grant income and expenses.

 

To start, let's enable class tracking to monitor funds effectively. You can follow the steps below:

 

  1. Select Settings and choose Account and Settings.
  2. Click Advanced.
  3. In the Categories section, select Edit.
  4. Enable Track classes.
  5. Click Save and then Done.

 

Next, you can create a class for each grant, allowing for separate tracking of income and expenses associated with each one.

 

  1. Go to Settings and select All lists.
  2. Click on Classes.
  3. Select New, then enter the name of a fund in the Name field.
  4. Click Save.

 

When recording grant income, assign the relevant class to categorize it under the specific grant. Similarly, assign the appropriate class for any grant-related expenses.

 

To view the income and expenses for each grant, let's run the Profit and Loss by Class report. Here's how:

 

  1. Go to the Reports menu in the left panel.
  2. Search for and select Profit and Loss by Class.
  3. Click All Dates from the Report period dropdown list to review the total income or expense.
  4. Select Run Report.

 

Additionally, QuickBooks offers various reports that provide the information you need. You can customize these reports to obtain the specific data you want. For guidance, refer to the article: Customize Reports In QuickBooks Online.

 

Please let us know if you have any further questions about tracking grants. We’re always here to assist you and respond as soon as possible.

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