account numbers RSS

account numbers, accountant beside you, classes, items, Quickbook Online -

Several readers have asked for a bit more clarification regarding when to use classes versus adding new account numbers or items. So here are just a couple of points to remember. Account numbers are used to track revenues, expenditures, assets and liabilities to show on your financial statements. Items are used to identify the specific things you receive donations for or to track very specific expenses. They are used to bill your donors or members and to allocate expenses to programs and grants. For example, you may have items set up for three different types of donations which feed into...

Read more