Q 2009 Class?

Posted by Bob Newman on October 27, 2009, 6:42 pm

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In previous versions of Q you could assign a "class" to various transactions
but I believe that they changed the name in 2009. Can anyone tell me what
it is. Perhaps someone can tell me if that is the way to go in this
instance. Q is keeping my personal finances with all the usual income
sources & expenses for my wife and I. I have taken a part-time job on an
independent contractor basis. This will not be a major source of income but
I needed to setup an account at another bank for direct deposit purposes and
would like to be able to pull up all income and expenses related to this
job. It will be using some general items such as gasoline cards, etc.
already in my personal account. What would be the best way to handle this?
--
Thanks in advance... Bob

Posted by Robert Neville on October 27, 2009, 6:57 pm

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>In previous versions of Q you could assign a "class" to various transactions

>but I believe that they changed the name in 2009. Can anyone tell me what

>it is.

Tags

>Perhaps someone can tell me if that is the way to go in this

>instance. Q is keeping my personal finances with all the usual income

>sources & expenses for my wife and I. I have taken a part-time job on an

>independent contractor basis. This will not be a major source of income but

>I needed to setup an account at another bank for direct deposit purposes and

>would like to be able to pull up all income and expenses related to this

>job. It will be using some general items such as gasoline cards, etc.

>already in my personal account. What would be the best way to handle this?

Yes. Think of Categories as "what" and Tags as "why".

Posted by Laura on October 28, 2009, 2:14 pm

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> In previous versions of Q you could assign a "class" to various

> transactions but I believe that they changed the name in 2009. Can anyone

> tell me what it is. Perhaps someone can tell me if that is the way to go

> in this instance. Q is keeping my personal finances with all the usual

> income sources & expenses for my wife and I. I have taken a part-time job

> on an independent contractor basis. This will not be a major source of

> income but I needed to setup an account at another bank for direct deposit

> purposes and would like to be able to pull up all income and expenses

> related to this job. It will be using some general items such as gasoline

> cards, etc. already in my personal account. What would be the best way to

> handle this?

> --

> Thanks in advance... Bob

You have 2 options: tags and categories.

I'm an independent contractor and I found it easier to setup categories for
both income and expenses. I set them up as Business categories which in H&B
gives me additional reports. It also allows me to setup customized reports
that select on category.

If you go with Tags then one report to use is the Cash Flow by Tag report.
That appears to be the only report that allows you to select on Tags. Most
reports don't display tags nor allow you to select on them. These were some
of the reasons I went with categories.

Posted by Bob Newman on October 28, 2009, 8:56 pm

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>> In previous versions of Q you could assign a "class" to various

>> transactions but I believe that they changed the name in 2009. Can

>> anyone tell me what it is. Perhaps someone can tell me if that is the

>> way to go in this instance. Q is keeping my personal finances with all

>> the usual income sources & expenses for my wife and I. I have taken a

>> part-time job on an independent contractor basis. This will not be a

>> major source of income but I needed to setup an account at another bank

>> for direct deposit purposes and would like to be able to pull up all

>> income and expenses related to this job. It will be using some general

>> items such as gasoline cards, etc. already in my personal account. What

>> would be the best way to handle this?

>> --

>> Thanks in advance... Bob

> You have 2 options: tags and categories.

> I'm an independent contractor and I found it easier to setup categories

> for both income and expenses. I set them up as Business categories which

> in H&B gives me additional reports. It also allows me to setup customized

> reports that select on category.

> If you go with Tags then one report to use is the Cash Flow by Tag report.

> That appears to be the only report that allows you to select on Tags. Most

> reports don't display tags nor allow you to select on them. These were

> some of the reasons I went with categories.

Thanks for the info.

Bob

Posted by hashky on November 4, 2009, 11:57 am

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I did this for several years. I used Categories. You can also use
Sub-Categories if you need. I used numbers for categories and then made
me a "cheat sheet". I used the numbers on Federal Tax Schedule C.

If you do it this way it makes it easy to filter and generate reports.

Example:

Business #1
100-Income
108-Advertising
109-Car and Truck Expenses
110-Commissions and Fees
...etc.
110:1-Management Fees (for an example of a subcategory)
127-Other Expenses

This will work as long as you only have 9 businesses. Then in the
reports you filter by Category Contains "1..". Sort by Categories and
you have a report filled out for Schedule C.

If you have more than 9 businesses you could use "A_100-Income, etc.

Tags are new to me, but I know that an item can have several Tags. I
don't think that is what you want to use.

Ron Spruell

Bob Newman wrote:

> In previous versions of Q you could assign a "class" to various transactions

> but I believe that they changed the name in 2009. Can anyone tell me what

> it is. Perhaps someone can tell me if that is the way to go in this

> instance. Q is keeping my personal finances with all the usual income

> sources & expenses for my wife and I. I have taken a part-time job on an

> independent contractor basis. This will not be a major source of income but

> I needed to setup an account at another bank for direct deposit purposes and

> would like to be able to pull up all income and expenses related to this

> job. It will be using some general items such as gasoline cards, etc.

> already in my personal account. What would be the best way to handle this?