Question

You need to track your company sales and expenses by department. Put the following steps in order for tracking transactions for departments in the correct order. Not all steps will be used.

a) Create a separate account for each department.
b) Assign each transaction to the appropriate department.
c) Generate department-specific reports.
d) Set up class tracking in QuickBooks.

Answer 1

To track your company sales and expenses by department, follow these steps: create a separate account for each department, set up class tracking in QuickBooks, assign each transaction to the appropriate department, and generate department-specific reports.

Step-by-step explanation:

1. Create a separate account for each department.
2. Set up class tracking in QuickBooks.
3. Assign each transaction to the appropriate department.
4. Generate department-specific reports.