If you use the Class feature in QuickBooks then the new default classes preference in QuickBooks 2013 may be a welcome addition. This is fairly simple – you can now assign a default class to certain kinds of list records, and if that list record is used in a transaction then that class is filled in for you. This may be useful in some situations.
You will find a new option in the Accounting preferences, Assign classes to…
You have the option to select Accounts, Items or Names. Note that you can only use this feature with one type of list, you cannot set this for all three list types.
Please note that this feature is only available in QuickBooks Enterprise, not in Pro or Premier.
If you select Names then you will see that you can select a default class in each Customer, Vendor and Employee record. Not, however, in the Other Names list for some reason.
When you create a transaction using this record, you will see that the Class field is filled in for you automatically.
Similarly, if you select Items in the preference you will find a class field in the item record.
As you would expect, if you use this item in a transaction, the class is filled in automatically.
I did find an unexpected consequence from using this in items. Here’s an invoice that I created, where I did not enter a class in the invoice header. I also do not have a class column showing in the form. If I create an invoice this way in QuickBooks 2012 then this line would be unclassified, no class would be assigned to that line value. However, in QuickBooks 2013 with the default class set in the item record, the class is recorded even if it doesn’t show in the invoice template. I don’t think it is a problem – it is just different, and that always makes me stop to think…
If you set the preference to Accounts you will see a class field in the account list.
Again, as you would expect, the class is automatically filled in when you create a General Journal Entry record using this account. I was wondering if the class would e used any time that this account is referenced? Let’s say, for example, if I create an invoice that uses an item that refers to this particular account? However, this doesn’t happen. The class is used just if there is an explicit transaction that directly uses the account.
So far as I’ve seen this everything works fine, although I have not used it extensively yet. It is a fairly simple addition. I can see a lot of advantages to doing using this for some businesses.
The Class field is available through the Add/Edit Multiple List Entries feature, and it is available to add to List reports, but it is NOT included in the Excel Export of the lists.
Nice addition, Intuit!