How can I track different areas of my company separately by department or location?

Legacy KB ID: 302

Question

How can I track different areas of my company separately by department or location?

Answer

You can track the income and expenses of different departments or locations within your company separately by using classes. You can use classes to track the following:

1. Individual department's payroll, overtime, income and expenses, etc. as well as the total for all departments.

2. Totals for separate locations as well as the cumulative total for all locations.

3. Different properties you own.

4. Any other meaningful breakdown of the business you do.

An example: You own more than one fitness centre and want to track the income and expenses for each of the centres separately, plus you want to know the total income and expenses for the entire business. You set up a separate class for each fitness centre. Each month, you run a separate report for each fitness centre, and then run a report that shows totals for all your centres.

Note: You can track classes for income/expense accounts (such as sales, advertising, phone, etc.), but you cannot track classes for most balance sheet accounts (such as cheque, accounts receivable, etc.).

To turn class tracking on:

1. From the File menu, choose Preferences. (In versions prior to 5.0, just choose Preferences from the menu bar, select Transactions and skip step 2.)

2. Select Accounting in the scroll box.

3. Select the "Use class tracking" checkbox.

4. Click OK.

To create a list of classes:

1. From the Lists menu, choose Classes (Classes may also be in the Other List menu).

2. In the Class List window, choose New from the Class menu button.

3. Enter the class name in the Class Name field.

4. (Optional) If this is a subclass of another class, select the "Subclass of" checkbox and choose the higher-level, or parent, class from the drop-down list.

5. Click Next to enter another new class, or click OK to close the window. For more information on working with classes, refer to the Reckon Accounts User's Guide.

To add a Class column to a form: When you add a Class column to your form, you can assign classes to individual line items on the form. (for version 5.0 only).

1. Open the form you want to modify.

2. From the open form, choose Customise from the Template drop-down list.

3. Select a template from the list.

4. Click Edit to edit the template or click New to create a new template.

5. Enter a name for the template.

6. On the Columns tab, select the Class column.

7. Make any other necessary changes, then click OK.


Need more help?

Ask the Reckon Community at: https://community.reckon.com/categories/reckonaccounts

Or Log a Support Ticket: https://www.reckon.com/au/support/

How did we do?

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