How do I enter an opening balance for a class?.

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Tania_10126273
Tania_10126273 Member Posts: 22 ✭
edited April 2020 in Accounts Hosted
Builders with multiple projects, each project is a 'class'. We have moved from Desktop to Hosted and the balances for each building project hasn't come across. Manually how do I enter them? Need to enter total Income, total expenses, and net income for each job as at 30th June

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  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
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    Hi Tania

    Class doesn't have a balance, it is a tool to group accounts together for one location. the i.e P&L by class gives you the balances of the cogs, income & exp accounts linked to that class.

    If you are running builders with multi jobs, use jobs (sub-customers), this way you can mark each job, pending,awarded, complete, start finish etc.

    Create the builder as a customer, then create another customer for the job 15 Smith St. Hacksville & make this a sub account of the builder.

    If you are tying to do it by class, you will have to print out the closing balance of each of your accounts by class, then create multi opening balances to the various classes.

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