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Organizing types

Posted on 2010-08-16
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I am planing to organize my quickbooks file.
I would like to start using Classes, job types, customer/donor types.
This is a snapshop of my organization, please any comments and suggestion on how to implement types are welcome
We are a non profit organization and receive donations from board members, natural persons, pharmaceutical companies, etc
We host few events during the year that generate revenues  like: chess tournament,  Christmas campaign, Annual report, etc.
and we offer different services.

My approach is as follow

Classes to organize different services we offer (research, advocacy,  science, technology)
Job types to organize the evenets, so i can see which one generates more revenue
Customer types, to classify where my donations are coming from (natural person, companies, pharma, goverment, etc)

what do you think, please advice
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Question by:titorober23
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7 Comments
 

Author Comment

by:titorober23
ID: 33445962
obviously i plan to use subtypes, to classified for differen years, foir example
class: chess torunament\subclass 2010 - chess tournament

please advice
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Accepted Solution

by:
Experienced Member earned 600 total points
ID: 33453121
To use both classes and jobs is to make QuickBooks reporting more complicated.

Revenue by job is reasonably straightforward; profitability by job is more complex because costs have to be recorded by jobs as well.

Classes are a different cut at revenue / expense and must be used all the time. You cannot neglect to put a class on a transaction. However, revenue / expense reporting by class is a bit easier than by job.

You probably should set up a test ledger with classes and see how the reporting goes. Then set up a small test ledger with some customer:jobs and see how that reporting looks. Then set up a small third test ledger that combines both and see how it looks.

You can set up classes and jobs. The issue will be the reporting and how complex. You may wind up having to get a 3rd party reporting tool or to export data into Excel to improve the reporting presentation.

... Thinkpads_User
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Assisted Solution

by:JackOfAllTrades
JackOfAllTrades earned 600 total points
ID: 33454606
Do you have financial statements from a previous year?  If so is the accounting classified into funds? If it is these funds should be your classes.  If you only need financials for internal purposes then disregard.
Your Classes should be your permanent business segments or divisions.  You do not have to assign a class to every transaction.  If no class is assigned the Revenue or Expense will be placed in a column labeled "unclassified" when you separate your P&L by class.  Although I would recommend assigning everything to a class to keep the P&L clean.
I would recommend setting up the separate divisions by classes and making a class called "general" to place all your revenue and expenses that cannot be assigned to a class.
Then you can use jobs and customers to track your events.  By recording income and expense by job and class, you will be able to pull reports on your detailed specific events and generate P&L’s by segments.

If you need BS by class there are third party nonprofit softwares that nntegrate with QB to assist.
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Author Comment

by:titorober23
ID: 33501391
where do i see those third party software?
can is et up a genral class by default, i mean if i enter a tracsaaction assign a genral class by default if i need to change i can change it.

this is my approach, please review and comment


Classes to organize different services we offer (research, advocacy,  science, technology)
Job types to organize the evenets, so i can see which one generates more revenue
Customer types, to classify where my donations are coming from (natural person, companies, pharma, goverment, etc)
0
 
LVL 97

Assisted Solution

by:Experienced Member
Experienced Member earned 600 total points
ID: 33501477
So far as I know (having used classes from time to time), there is not a default class. You enter the class you want, and if you leave it out, it goes to unassigned.

If you want to see third party solutions, you can start with this:

http://marketplace.intuit.com/Default.aspx

... Thinkpads_User
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LVL 2

Assisted Solution

by:JackOfAllTrades
JackOfAllTrades earned 600 total points
ID: 33501552
One a lot of our nonprofit clients use funds fix....   http://www.qfixsoftware.com/

You cannot set up a default class, but I recommend setting up B to prompt you if you do not assign a class.

To do so
Go to Edit....Preferences....Accounting.....Company Preferences....check “Prompt to assign class"

This way you will be reminded to code all transactions to a class
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Expert Comment

by:Experienced Member
ID: 33505725
Thanks again, and good luck going forward. ... Thinkpads_User
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