QuickBooks 2011 – New Balance Sheet by Class Report – Part 2

QuickBooks 2011 – New Balance Sheet by Class Report – Part 2

QuickBooks 2011 offers a new advanced Balance Sheet by Class Report that differs from other QuickBooks reports because it gives users the option of selecting “Classes” (fund, location, profit center, or other category) as their column grouping. This will enable QuickBooks users to perform divisional accounting with QuickBooks, which was previously impossible or required significant duplication of effort.

The first limitation that we will discuss is Journal entries with “unbalanced” classes. This limitation will affect CPA’s and other accounting professionals; and will require that they change the manner in which they create journal entries in client files – if they or their client chooses to use the Balance Sheet by Class Report.

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