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Classes and Tracking Categories in ProfitSee Enterprise

ProfitSee Enterprise allows users to manage company files with multiple profit centers or classes.

ProfitSee Enterprise allows users to manage company files with multiple profit centers or classes. Simply sync in your company file as below, selecting the ProfitSee Enterprise license type:

For QuickBooks Online, click here

For Xero, click here

 

Tracking Category and Class Initial Sync

If your accounting file utilizes tracking categories or classes, select the tracking category which you use for divisions or branches of your company. If none of the tracking category represents divisions or branches of your enterprise, select “None” then click “Submit”.  If you have no tracking categories, this step will be skipped.

Xero sync 3-1

Please keep in mind that you can only select one class at a time, so if you wish to utilize multiple different classes or tracking categories you will require duplicate versions of the file to be synced in.

 

Burden Calculation

In QuickBooks, if you are booking AR/AP as “unclassified” they appear only in the parent company. If you have expenses, they should actually be distributed across your branches/divisions, which are called ProfitCenters in ProfitSee. ProfitSee tries to do this “burden allocation” intelligently based on the number of employees your branches/divisions have. In the data providers (QuickBooks Online, Xero), the number of employees needs to be entered manually. Therefore a “Burden Wizard” will pop-up after syncing.

 

To allocate burdens:

1. Step through the Burden Allocation wizard as guided

2. Manually enter the number of employees per ProfitCenter

 

classestracking1

 

You can manage your classes/categories individually or in whole by clicking the drop-down box:

 

classestracking2

 

3. If you add in any new profit centers or archive old ones, you will automatically be prompted to manage the burden allocation the next time you sync.  

 

PCSyncPrompt

 

Thanks for reading! If you have any questions please contact your account manager or reach out to us at support@myprofitsee.com.