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Quickbooks - Prepay Accounting for both Expense and Asset
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Flagship
Posted 1/24/2011 12:32 (#1569421 - in reply to #1569269)
Subject: RE: Quickbooks - Prepay Accounting for both Expense and Asset


Glad to hear the Cookbook is helping, and particularly with Classes--I think they're the least-used "great" feature in QuickBooks. Intuit's own Help system & other documentation offers very few clues about using Classes at all. A lot more people would be using them right now (and in all kinds of businesses) if Intuit gave them some attention.

Speaking of Classes, I've attached a glimpse of what we're working on for the next major release of our ManagePLUS for QuickBooks software. It's a screen shot of the window where you can allocate overhead or cost center Classes to other cost and/or profit center Classes. You drag the %, 1, or 2 buttons from the left pane into the tree in the right pane, to allocate a from the current Class (in this case a JD Gator) to your other Classes.

By the way, you can also allocate Accounts....so you'll be able to stop entering Electricity, etc., split among different Classes:  you can just allocate from Electricity to wherever you want it, at year's end.

The end result of all this, of course, is the ability a Profit and Loss report for any cost center or profit center Class, that includes your allocations.

Oh, and don't pay too much attention to the goofy test data we're using. It's not meant for public consumption, and the end product will have more sensible examples...

Mark Wilsdorf
Flagship Technologies, Inc.
QuickBooks™ Add-Ons and Solutions You Can Use
http://www.goflagship.com





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