Can a product have two income accounts?

Introduction

Products can only have a single income account, but you can track sales by class and item. You can group products by the class and income account using the sales by class summary. 

Rules

You must set up a rule that assigns a class, based on a store name. In this example, the store name is Shopify US:

shopify.jpg

  1. After logging into Connex for QuickBooks, hover over the gear and click rules engine.
  2. Click add new rule.
  3. Add this rule: 
    online_sales.jpg

QuickBooks Desktop

Connex will create classes, if they do not exist. You must enable class tracking in QuickBooks:

  1. In QuickBooks, go to edit > preferences > accounting.
  2. Under the company preferences tab, click use class tracking for transactions: class.jpg

 

Orders

In QuickBooks, you will see online in the class field. Here is an example transaction. In QuickBooks, go to reports and click profit and loss. Select profit and loss by class. Here is the end result:

class_income.jpg

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