Class Tracking

Overview

The Platinum Program includes Class Tracking, which allows financial transactions to be categorized into customizable groups for more detailed financial reporting and analysis.

This feature provides additional visibility into how different areas of your business are performing by organizing transactions into meaningful segments.

Core Purpose

The purpose of Class Tracking is to:

• Provide deeper insight into business performance

• Allow segmentation of financial data across different areas of the business

• Support more detailed and customized financial reporting

What Class Tracking Means

Class Tracking allows transactions to be grouped into categories that reflect how your business operates.

Examples of class groupings may include:

• Divisions or departments

• Locations

• Separate business entities

• Types of products or services

• Revenue streams or sale types

These groupings are customizable based on the client’s business needs and reporting goals.

How Class Tracking Is Used

With Class Tracking applied, ABBL can generate reports such as:

• Profit and Loss by Class

• Financial summaries by division, location, or category

• Comparative performance across different areas of the business

This allows clients to better understand where revenue is generated and where expenses are incurred.

Scope Within the Platinum Program

Class Tracking is applied within the total transaction volume included in the Platinum Program.

• Transactions that are already part of the program will be assigned to the appropriate class as part of standard bookkeeping workflows

• This ensures that class-level reporting is integrated into the existing accounting process

Additional Class Tracking (Expanded Scope)

If additional class tracking requirements increase:

• Transaction volume

• Complexity of categorization

• Level of detail required

Then:

• Additional class tracking services may be added for an additional fee

This ensures that increased complexity is properly supported without impacting service quality.

What Is Included

• Setup and use of class tracking within QuickBooks Online

• Assignment of classes to transactions within standard workflows

• Inclusion of class-based reporting in financial statements (where applicable)

What Is NOT Included

• Unlimited additional class tracking beyond standard transaction scope

• Complex restructuring of class systems outside initial setup

• Detailed analytical reporting beyond standard financial statements (unless separately scoped)

Client Responsibilities

Clients are responsible for:

• Defining how classes should be structured

• Communicating any changes to class groupings

• Providing clarity when transactions require specific class assignments

Internal Team Standard

Internally, ABBL is expected to:

• Apply class tracking consistently across transactions

• Follow the defined class structure

• Ensure class data is accurate and supports reporting

• Escalate unclear classifications for clarification

Client Training Explanation / Key Takeaway

Class Tracking allows you to see how different parts of your business are performing, not just your business as a whole.

By organizing transactions into meaningful groups, you can:

• Identify which areas are most profitable

• Understand where costs are concentrated

• Make more informed operational decisions

This feature adds a layer of visibility that supports better financial management and growth.