Classifications


S

Scoop

I'm having a little trouble understanding Classifications in M04. I've
browsed through older threads and I think I've got the concept (i.e.
why their used and how they relate to categoires/subcategories) but I
don't fully understand the specifics of setting them up.

I am trying to use Classification(s) for rental property. What I don't
understand is the relationship between the various levels. It seems
that the levels involved are:

Classification: Class: Subclass

Is an appropriate use of this feature for my purpose like this?

Properties (Classification): Rentals(Class): 123 Maple Street(Subclass)
or...

Rental Properties (Classification): 123 Maple Street (Class): Rental
Income (Subclass)

Any help or an explanation of what is different between a
"Classification" and a "Class" would be much appreciated. I don't know
how to better describe what I'm misunderstanding but I'm sure someone
out there knows what I'm talking a/b:)
 
Ad

Advertisements

C

Cal Learner-- MVP

I'm having a little trouble understanding Classifications in M04. I've
browsed through older threads and I think I've got the concept (i.e.
why their used and how they relate to categoires/subcategories) but I
don't fully understand the specifics of setting them up.

I am trying to use Classification(s) for rental property. What I don't
understand is the relationship between the various levels. It seems
that the levels involved are:

Classification: Class: Subclass

Is an appropriate use of this feature for my purpose like this?

Properties (Classification): Rentals(Class): 123 Maple Street(Subclass)
or...

Rental Properties (Classification): 123 Maple Street (Class): Rental
Income (Subclass)
I think it would be that one. You would not necessarily need a
subclass in that you could have 123 Maple Street (Class) with Rental
Income being the Category.
 
S

Scoop

Thanks Cal!

So, what is an example of an appropriate use of subclasses?
 
C

Cal Learner-- MVP

Thanks Cal!

So, what is an example of an appropriate use of subclasses?
I would not say Rental Properties (Classification): 123 Maple
Street (Class): Rental >Income (Subclass) would be inappropriate.
The system is flexible.

However I think (Classification): 123 Maple Street (Class):
Apartment 201 (Subclass) with Rental Income being the Category could
be useful.

That would let you make flexible reports.
 
D

Dick Watson

Unlike Cal, I would suggest the first of your two scenarios is sufficient
and more versatile. Rental Income is an Income as in Income ***Category***.
If, as one of these scenarios suggest, you owned a duplex or an apartment
building, then maybe Rental Property item 123 Fig St., sub item Apartment
103 might make some more sense, but even there I'm less sure. You don't want
to mix the categorization you use with the classification you use. It kinda
defeats the purpose.

I use classification1 Classes:Subclasses like:
Property:123 Living Like A Republican Cir.
Automobile:CR-V
Cell Phone:(808)555-1212
Computer:Desktop IV
Vacation:Hawaii 2004
Domain:umpmfaq.info

Thus I can have Automobile:Maintenance for Automobile:CR-V or
Automobile:SLK. The same would apply for Other Income:Rental Income; It
could be for class Property:456 Elm St. or Property:567 Oak Ln. or
Property:678 Fir Cir., Unit A.

But there is no one right answer. Create a new file and play around in it to
see what works for you with things like reporting. Then go back to your main
file and knock yourself out. The only caution is that once you start down a
path it's harder to change in some ways than categorization since it isn't
supported in Find and Replace.
 
S

Scoop

Thanks a million, that helps a lot! Just a couple more quick ?'s...
(for Dick)

I assume that when you mention that it "isn't supported in Find and
Replace", that means you would have to locate each transaction that was
classified and change it individually?

Other than the Find and Replace issue, are there any implications to
deleting a Classification (i.e. Classification1) after it has been
created and used?

I understand how you use Classification1 for your purposes, do you use
Classification2 for another purpose?

Thanks again!
 
Ad

Advertisements

D

Dick Watson

Yes, there is no way to Find/Replace Classifications en masse.
Classifications have been in Money since about v.2. That's a decade. The
requirement for classification support has been on my wish list just as
long. Instead we get more ads and frequent flier mileage tracking. Go
figure.

As to deleting classification1 after using it, there are no issues I know
of. All data entered for classification1 will be lost.

I do not use classification2. The only good scenario I've ever heard of for
using both is to use the second one for something like tax year information.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Classification 2
Classifications 4
Classifications 0
Classifications 2
Classifications 1
Classifications 1
Classifications 4
Classifications in view 1

Top