Classes

REALedger uses Classes as a way to set defaults for specific transactions and provides another layer by which to filter reports. Classes can be customized defined according to the needs of your business.

AP Class

Useful for organizations that wish to maintain multiple cash accounts. Assigning a class to transactions will group like transactions together to force check runs and bank reconciliations by cash account. Set the AP Class defaults for each office to allow different cash accounts for each office, or offices can share cash accounts.

Sales Class

The most common use is to accommodate organizations that wish to maintain multiple cash accounts. Assigning a class to transactions will group like transactions together to force check runs and bank reconciliations by cash account. You set the default sale class for each office to have a different cash account for each office or the same account for all offices.

Define classes to correspond to profit centers (offices) and track sales based on a region, area or
neighborhood. The benefit here is that reports can be sorted/filtered by class, to include only those sales
related to a specific class.

Create a Class Code for every purpose: code must be unique and no more than 8 characters in length

Enter a Class description

Select the appropriate Cash account from the drop-down

Select the appropriate Commission Income Account from the drop-down list

Select the appropriate Commission Expense Account from the drop-down list

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