Departmentalized accounting

Departmentalized accounting
-------------------------------------

I would like to departmentalize a restaurant business between one class
for restaurant sales and banquet sales.

I would like to obtain a P/L report with each class showing current
period/YTD/prior period/prior year to date as well as the same for the
combined P/L. Is this possible?

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"djs2153" wrote
>
> Departmentalized accounting
> -------------------------------------
>
> I would like to departmentalize a restaurant business between one class
> for restaurant sales and banquet sales.
>
> I would like to obtain a P/L report with each class showing current
> period/YTD/prior period/prior year to date as well as the same for the
> combined P/L. Is this possible?



Yes, you can use Class Tracking for restaurant and banquet revenues and
expenses. Each item would have to be allocated between one or the other
class, which gets tricky for shared expenses like utilities and advertising.
Things like that come down to guesses. There will be more work on your end
during input to get the revenues and expenses allocated correctly.

Reports filtered by class could generate one report for each class, show
each class in separate columns with a total, or don't filter by class and
have only the company total showing.





--
Paul Thomas, CPA
www.paulthomascpa.com

On Jan 27, 7:07*am, "paulthomascpa" <paulthomascp...@bellsouth.net>
wrote:
> "djs2153" *wrote
>
>
>
> > Departmentalized accounting
> > -------------------------------------
>
> > I would like to departmentalize a restaurant business between one class
> > for restaurant sales and banquet sales.
>
> > I would like to obtain a P/L report with each class showing current
> > period/YTD/prior period/prior year to date as well as the same for the
> > combined P/L. *Is this possible?
>
> Yes, you can use Class Tracking for restaurant and banquet revenues and
> expenses. *Each item would have to be allocated between one or the other
> class, which gets tricky for shared expenses like utilities and advertising.
> Things like that come down to guesses. *There will be more work on yourend
> during input to get the revenues and expenses allocated correctly.
>
> Reports filtered by class could generate one report for each class, show
> each class in separate columns with a total, or don't filter by class and
> have only the company total showing.
>
> --
> Paul Thomas, CPAwww.paulthomascpa.com

The answer to your question is a little more complex. QuickBooks only
provides P/L and Balance sheet reports for the company not for
classes. You can get class reports but they will not be true P/L
reports. To get a real p/l and Balance sheet report for the different
sales groups you will have to open to separate company files or find
an external third party report generator. Again this assumes you want
a real P/L for each class. QuickBooks class reports can be pretty
comprehensive.

I hope this helps. Good luck!

Randy Morris
QuickBooks Pro Advisor
www.quickbooksmn.com

On Wed, 27 Jan 2010 05:29:23 -0800 (PST), rtm4833 <>
wrote:

>On Jan 27, 7:07*am, "paulthomascpa" <paulthomascp...@bellsouth.net>
>wrote:
>> "djs2153" *wrote
>>
>>
>>
>> > Departmentalized accounting
>> > -------------------------------------
>>
>> > I would like to departmentalize a restaurant business between one class
>> > for restaurant sales and banquet sales.
>>
>> > I would like to obtain a P/L report with each class showing current
>> > period/YTD/prior period/prior year to date as well as the same for the
>> > combined P/L. *Is this possible?
>>
>> Yes, you can use Class Tracking for restaurant and banquet revenues and
>> expenses. *Each item would have to be allocated between one or the other
>> class, which gets tricky for shared expenses like utilities and advertising.
>> Things like that come down to guesses. *There will be more work on your end
>> during input to get the revenues and expenses allocated correctly.
>>
>> Reports filtered by class could generate one report for each class, show
>> each class in separate columns with a total, or don't filter by class and
>> have only the company total showing.
>>
>> --
>> Paul Thomas, CPAwww.paulthomascpa.com
>
>The answer to your question is a little more complex. QuickBooks only
>provides P/L and Balance sheet reports for the company not for
>classes. You can get class reports but they will not be true P/L
>reports. To get a real p/l and Balance sheet report for the different
>sales groups you will have to open to separate company files or find
>an external third party report generator. Again this assumes you want
>a real P/L for each class. QuickBooks class reports can be pretty
>comprehensive.
>
>I hope this helps. Good luck!
>
>Randy Morris
>QuickBooks Pro Advisor
>www.quickbooksmn.com
Randy-I beg to differ! QB DOES provide TRUE P&L by classes! (True on the
Balance sheet side of your comment) No need for 2 companies! Original
poster only wanted P&L! I do not want to seem "catty" - but are you sure
you are a true QB Pro Advisor??

N Owen

On Jan 27, 8:07*am, N Owen <nowe...@cdibb.com> wrote:
> On Wed, 27 Jan 2010 05:29:23 -0800 (PST), rtm4833 <rtmor...@gmail.com>
> wrote:
>
>
>
> >On Jan 27, 7:07*am, "paulthomascpa" <paulthomascp...@bellsouth.net>
> >wrote:
> >> "djs2153" *wrote
>
> >> > Departmentalized accounting
> >> > -------------------------------------
>
> >> > I would like to departmentalize a restaurant business between one class
> >> > for restaurant sales and banquet sales.
>
> >> > I would like to obtain a P/L report with each class showing current
> >> > period/YTD/prior period/prior year to date as well as the same for the
> >> > combined P/L. *Is this possible?
>
> >> Yes, you can use Class Tracking for restaurant and banquet revenues and
> >> expenses. *Each item would have to be allocated between one or the other
> >> class, which gets tricky for shared expenses like utilities and advertising.
> >> Things like that come down to guesses. *There will be more work on your end
> >> during input to get the revenues and expenses allocated correctly.
>
> >> Reports filtered by class could generate one report for each class, show
> >> each class in separate columns with a total, or don't filter by class and
> >> have only the company total showing.
>
> >> --
> >> Paul Thomas, CPAwww.paulthomascpa.com
>
> >The answer to your question is a little more complex. QuickBooks only
> >provides P/L and Balance sheet reports for the company not for
> >classes. You can get class reports but they will not be true P/L
> >reports. To get a real p/l and Balance sheet report for the different
> >sales groups you will have to open to separate company files or find
> >an external third party report generator. Again this assumes you want
> >a real P/L for each class. QuickBooks class reports can be pretty
> >comprehensive.
>
> >I hope this helps. Good luck!
>
> >Randy Morris
> >QuickBooks Pro Advisor
> >www.quickbooksmn.com
>
> Randy-I beg to differ! QB DOES provide TRUE P&L by classes! (True on the
> Balance sheet side of your comment) No need for 2 companies! Original
> poster only wanted P&L! I do not want to seem "catty" - but are you sure
> you are a true QB Pro Advisor??
>
> N Owen

N Owen is correct.

On Jan 27, 12:50*pm, Karl <karl3...@gmail.com> wrote:
> On Jan 27, 8:07*am, N Owen <nowe...@cdibb.com> wrote:
>
>
>
>
>
> > On Wed, 27 Jan 2010 05:29:23 -0800 (PST), rtm4833 <rtmor...@gmail.com>
> > wrote:
>
> > >On Jan 27, 7:07*am, "paulthomascpa" <paulthomascp...@bellsouth.net>
> > >wrote:
> > >> "djs2153" *wrote
>
> > >> > Departmentalized accounting
> > >> > -------------------------------------
>
> > >> > I would like to departmentalize a restaurant business between one class
> > >> > for restaurant sales and banquet sales.
>
> > >> > I would like to obtain a P/L report with each class showing current
> > >> > period/YTD/prior period/prior year to date as well as the same forthe
> > >> > combined P/L. *Is this possible?
>
> > >> Yes, you can use Class Tracking for restaurant and banquet revenues and
> > >> expenses. *Each item would have to be allocated between one or theother
> > >> class, which gets tricky for shared expenses like utilities and advertising.
> > >> Things like that come down to guesses. *There will be more work onyour end
> > >> during input to get the revenues and expenses allocated correctly.
>
> > >> Reports filtered by class could generate one report for each class, show
> > >> each class in separate columns with a total, or don't filter by class and
> > >> have only the company total showing.
>
> > >> --
> > >> Paul Thomas, CPAwww.paulthomascpa.com
>
> > >The answer to your question is a little more complex. QuickBooks only
> > >provides P/L and Balance sheet reports for the company not for
> > >classes. You can get class reports but they will not be true P/L
> > >reports. To get a real p/l and Balance sheet report for the different
> > >sales groups you will have to open to separate company files or find
> > >an external third party report generator. Again this assumes you want
> > >a real P/L for each class. QuickBooks class reports can be pretty
> > >comprehensive.
>
> > >I hope this helps. Good luck!
>
> > >Randy Morris
> > >QuickBooks Pro Advisor
> > >www.quickbooksmn.com
>
> > Randy-I beg to differ! QB DOES provide TRUE P&L by classes! (True on the
> > Balance sheet side of your comment) No need for 2 companies! Original
> > poster only wanted P&L! I do not want to seem "catty" - but are you sure
> > you are a true QB Pro Advisor??
>
> > N Owen
>
> N Owen is correct.- Hide quoted text -
>
> - Show quoted text -

You are correct. QB provides profit and loss by class reports. This
was not available in earlier versions of QB. My mistake.
Thank you for the correction.

Randy Morris
QuickBooks Pro Advisor
www.quickbooksmn.com

"rtm4833" <> wrote in message
news:4ea2b6c8-0600-48d1-8db2-...
On Jan 27, 12:50 pm, Karl <karl3...@gmail.com> wrote:
> On Jan 27, 8:07 am, N Owen <nowe...@cdibb.com> wrote:
>
>
>
>
>
> > On Wed, 27 Jan 2010 05:29:23 -0800 (PST), rtm4833 <rtmor...@gmail.com>
> > wrote:
>
> > >On Jan 27, 7:07 am, "paulthomascpa" <paulthomascp...@bellsouth.net>
> > >wrote:
> > >> "djs2153" wrote
>
> > >> > Departmentalized accounting
> > >> > -------------------------------------
>
> > >> > I would like to departmentalize a restaurant business between one
> > >> > class
> > >> > for restaurant sales and banquet sales.
>
> > >> > I would like to obtain a P/L report with each class showing current
> > >> > period/YTD/prior period/prior year to date as well as the same for
> > >> > the
> > >> > combined P/L. Is this possible?
>
> > >> Yes, you can use Class Tracking for restaurant and banquet revenues
> > >> and
> > >> expenses. Each item would have to be allocated between one or the
> > >> other
> > >> class, which gets tricky for shared expenses like utilities and
> > >> advertising.
> > >> Things like that come down to guesses. There will be more work on
> > >> your end
> > >> during input to get the revenues and expenses allocated correctly.
>
> > >> Reports filtered by class could generate one report for each class,
> > >> show
> > >> each class in separate columns with a total, or don't filter by class
> > >> and
> > >> have only the company total showing.
>
> > >> --
> > >> Paul Thomas, CPAwww.paulthomascpa.com
>
> > >The answer to your question is a little more complex. QuickBooks only
> > >provides P/L and Balance sheet reports for the company not for
> > >classes. You can get class reports but they will not be true P/L
> > >reports. To get a real p/l and Balance sheet report for the different
> > >sales groups you will have to open to separate company files or find
> > >an external third party report generator. Again this assumes you want
> > >a real P/L for each class. QuickBooks class reports can be pretty
> > >comprehensive.
>
> > >I hope this helps. Good luck!
>
> > >Randy Morris
> > >QuickBooks Pro Advisor
> > >www.quickbooksmn.com
>
> > Randy-I beg to differ! QB DOES provide TRUE P&L by classes! (True on the
> > Balance sheet side of your comment) No need for 2 companies! Original
> > poster only wanted P&L! I do not want to seem "catty" - but are you sure
> > you are a true QB Pro Advisor??
>
> > N Owen
>
> N Owen is correct.- Hide quoted text -
>
> - Show quoted text -

You are correct. QB provides profit and loss by class reports. This
was not available in earlier versions of QB. My mistake.
Thank you for the correction.


Just which version are you talking about? Class reporting was available in
QB 1999 and earlier. Just when it came out I can't remember. Why have
classes if you can't use them on reports?



Randy Morris
QuickBooks Pro Advisor
www.quickbooksmn.com