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April 12, 2021
Question

Divisions and recordings/reports

  • April 12, 2021
  • 1 reply
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I have a company with two divisions. We have customers for each division and some customers are using both divisions. So we want to be able to invoice and record the receivables and payables for each division. All receivables are into the same bank account.

1 reply

April 12, 2021

Hi janice17,

 

Managing two divisions can be a strenuous process but the good thing is that QuickBooks is designed to handle situations such as yours. I'll be happy to share more information so you can get back to doing what you love. 

 

Based on what you've described, I recommend looking into the Class/Location tracking feature which is offered on the Plus subscription. Class tracking allows you to get specific insights that help you bring your financials into focus. This powerful feature allows you to track your transactions by departments, product lines, or any other meaningful segments in your business. Here are the steps which show you how to set this up. 

 

To turn on:

  1.     Click the Gear icon.
  2.     Select Account and Settings.
  3.     In the navigational bar, click Advanced.
  4.     Select Categories.
  5.     Check off Track classes to turn on class tracking.
  6.     Click Save and then Done.                             

Here's how to set up classes:

  1.     Click the Gear icon and All Lists.
  2.     Select Classes. ( You can also add locations by selecting Locations.)
  3.     Click the New button.
  4.     Add the name of the class or location and click Save.

To add class tracking to payroll:

  1.     Click the Gear icon.
  2.     Under Settings, select Payroll Settings.
  3.     On the Setup Overview page, click on Accounting under Preferences.
  4.     If prompted, click Customize. If not, scroll down at the bottom of the screen to see the Classes section.
  5.     Select the option that will best fit your preference for class tracking.                          

To learn more about class tracking, here's a recommended article: Get started with class tracking in QuickBooks Online.

 

Give this a try and let me know how you make out. I'll be one message away in case you need further assistance.