 QuickBooks Online 2022, bank rules, same customer, different income accounts. Get ready because it's go time with QuickBooks Online 2022. Here we are in our bank fee practice file we set up with a 30-day free trial holding down control, scrolling up a bit to get to the 125% currently in the home page otherwise known as the Get Things Done page. In the business view as compared to the accountant view, if you want to change to the accountant view with something you can do by going to the cog up top and switch to the accountant view down below. We will be toggling back and forth between the two views, either here or by jumping to the sample company file currently in the accountant view. Going back over to the bank fee practice file, opening up a couple tabs to put reports in, right-clicking the tab up top to do so and duplicating, back to the tab to the left right-clicking again and duplicating again. As that is thinking, let's jump on over to the sample company file currently in the accountant view looking where the reports are at, left-hand side reports. Going back to the bank fee practice file, we're in the second tab reports are going to be located in the business overview and then in reports, closing the hamburger. We're going to be opening up the balance sheet, the big balance sheet and we're going to go back up top and do the range change from 010121 to 123121, run it. Tab to the right and then go into the business overview again this time looking at the reports of course and closing up the hamburger this time the profit and loss, the P and L otherwise known as the income statement with a range change from 010121 to 123121, run it. And then we're going to go back to the first tab finding our banking information working on bank rules. We're going to be in the banking area, left-hand side transactions up top, banking tab. If you were in the accountant view it would be under the banking, the double banking tab, tab to the left, tab to the top and then we're going to go back on over, close up the hamburger. We've got our three items up top. We're working on the checking account this time looking at rules. We need rules and I'm going to go into the description. I'm going to sort by the description. We're going to be focusing in on Amazon on the deposit side and you might have a situation where you have the same customer but you have different things that you're providing to that customer and as they pull in from the bank feeds you might then want to distinguish them in some way, shape or form if possible. You could have a similar scenario on the other side with the vendors. You might be purchasing different types of things from the same vendor or have some kind of transactions that have a distinguishing factor that you would like to put in place and try to automate it which can be difficult given the fact that all we have on the bank feed information is the amount and then the description which often includes something that we can create the vendor or customer from but often times within this description and if you don't have the full description you might want to hit the cog up top and be toggling between the copy bank detail to the memo to make sure that you have all of the detail that you could be working with because sometimes QuickBooks will try to make a smaller memo so it doesn't have all the junk involved in it but if you're trying to make a more complex rule that's a distinguishing rule some of these other items like the number on the right hand side and so on could be a differentiating factor that might be indicating like a different location even though it's the same company for example or something like that and so we have this differentiating factor with the dot com versus dot co and so on that could help us to then differentiate between the two, put them into two separate accounts if we so choose or possibly put them into two separate locations by account or possibly by using class tracking and I'd like to turn on the class tracking now just to imagine that these two items were from say different locations and I can then try to use this differentiating factor even though it's from the same customer to apply a rule out to the different locations to do that I'm going to right click on the tab up top, duplicate the tab and we're going to go into the cog up top we're going to go into the cog and see if we can get to our accounting we want to go to the account and settings on the left hand side go into the advanced on the left hand side advanced area and we want to go into the categories I'm going to turn on in the categories the class tracking I'm just going to leave it at the class tracking I'm not going to go into the location tracking we'll go into but I'll use the class tracking kind of as a location icon there are some differences between the two although they're going to work in a similar fashion so we're not going to get into a lot of details on the class tracking here but just show you how you can use it in this way and use it basically as a distinguishing factor we have the option down here to have one to the entire transaction and one to each row of the transaction meaning you can kind of split the transaction so the default here is one to each row that's why you have a little bit more flexibility with it then the track locations area where you don't have that option but in any case we're going to leave it at that I'm going to say done and say do you want to leave without saving I'm going to say do you want to leave without saving no I want to save it I want to save it let's save it oh here's the save save it then done so we can actually apply it out let's go back to the first tab now now I'm going to be adding some accounts to it so what I'd like to do is switch to the business view to the accountant view when I add the accounts I'm going to hit the dropdown up top switch to the accountant view so there we have it I'm going to close up the hamburger again so now I'm in the accountant view with my bank feed data and this first one let's imagine this one I'm going to go into it is income and I'm going to say it's applied to location one and I can see that because it has the dot CO as opposed to the COM now the next question is do I want to just have the customer name just be Amazon and just have all of the different variations in my rules all go to the same customer you can do that and you can still have different rules with the same customer or possibly I want to have a distinguishing customer so that I can actually sort this data by customer even though they're the same customer I might want to name them different in my system so I can look at it look it up possibly sort it in that way that's going to be an internal thing that you can decide what to do I'm going to make it a little bit distinct and I'm going to say this is going to be a customer this customer I already have them both set up as distinct customers so I'm going to say that's the one and it's going to go into the revenue now there's two ways we can distinguish the revenue if it were by location I'm going to do both of them so I might go back up and I might say that I wanted to go into add an account I'm going to say that I was going to put it into a let's just call it Amazon revenue just for a generic term so I'm going to say it's going to be an income account and I'm going to hit the drop down and we're going to say this is going to be service income and I'm just going to call it Amazon revenue and I tell you not to do that generally to record it by just the name but just for the generic example to see this difference but I'm going to put L1 for location 1 so that's going to be an indication of the location that it's going to be in and then I'm going to also so that's going to I'm also going to assign a class but not here we're going to assign a class to it too which will also indicate that it's going to be location 1 so let's save it and close it and so there we have that and now I've got this field for the class now which has now been added so I turned on the class tracking I don't have any classes yet I'm going to add a class which is going to be L1 so I'm going to save this so now it's going to record it into that revenue account for this customer and it's going to have a class on the income statement of L1 so let's go ahead and add it adding that so now if I go into the income statement here's going to be my income statement let's run it and then I'm going to hold control and scroll up again and there's my Amazon revenue with L1 indicating location 1 I'm going to open up another report by right clicking on the tab up top and duplicating that tab going into the reports on the left hand side into the reports and then I'm going to close up the hamburger and then looking for a profit and loss by class so here it is here's a profit and loss by customer there it is a profit and loss by class that's the one we want P and L by class a class P and L we're going to go up top and say this is going to be from 010121 to 123121 run it and so now we've got our classes breaking out L1 being broken out this way as well so those are kind of your options and that's where classes can come into play if you want to break out especially the income statement into different sections such as by location for example then you can use that you can also start to use that if you want to break out for a small business business versus personal for example if you're using one file for both or something like that but in any case now you can see those two locations both by the account because I labeled it L1 and by basically it's breaking out by the class tracking obviously the class tracking adds another level of complexity because you have to add a class to every transaction for everything to work properly otherwise it goes into the non-specified class which you can do that as well you can break out only the ones that you want to go into the class but generally you want to assign a class to every transaction in any case we won't go into that more detail there we're going to go back to the first tab and say okay what about the second transaction it's going to be in location 2 that's for this one Amazon.com which is slightly different and say let's say this one is going to go into location 2 I'm going to also indicate that it's a slightly different customer so it's a slightly different customer this is different than that let's say this one's different than that let's pull this one over this one over that's what we want add it I'm going to add it because it's not there there's the customer and I'm going to put this into a new category new category which I'm going to call an income type of account and it's going to be sales and product income and I'm going to call it the name again Amazon which I told you not to do but I'm going to do it Amazon L2 for location 2 save it and close it and then I'm going to put that into a class L2 which I have to add a new class L2 there we have it let's add it and then if I go to the normal P and L over here the normal P and L run it now I can see that I broke it out I broke it out by L1 and L2 for the same Amazon revenue although I named it I wanted to name it exactly the same name but I said Amazon and then Amazon Revenue but the point is it's in L1 and L2 or you got the class tracking now where we can run it again and we see that it's broken out and we can see that by the fact that I put it into two separate accounts and broke them out into two separate columns with the help and use of the class tracking so that's how you can get a little bit more specific on these types of rules because of course the goal is going to be that we can do as much automating as possible so anytime I have something going into multiple different accounts I want to be able to measure and have the difference between how much detail I want in my accounting and then how I can automate that detail that I would like as efficiently as possible and the rules and having them split out or possibly using some of the items in the memo to have some distinguishing factors is one way we can make the rules more efficient