Bookkeeping
Class and location tracking
Class and location tracking tags every transaction by property, department or line of business, so one set of books can produce profit and loss reports split by the parts of your US business that actually matter to you, without running separate entities.
Bank reconciliation summary
Illustrative client · August 2026
USD
| Account | Difference | Status | ||
|---|---|---|---|---|
| Operating account··4821 | 184,220.16 | 184,220.16 | 0.00 | Reconciled |
| Reserve account··0937 | 60,000.00 | 60,000.00 | 0.00 | Reconciled |
| Company card··1006 | (12,418.52) | (12,418.52) | 0.00 | Reconciled |
| Card processor clearing | 8,905.40 | 8,905.40 | 0.00 | Reconciled |
| Payroll clearing | 0.00 | 0.00 | 0.00 | Reconciled |
Last weekly runFri, Aug 28, every account agreed to its statement.
Two open itemsTwo card receipts requested from you, marked on the card account until they arrive.
Illustrative. An example of the document, not a client's figures.
The problem this solves
A business with several locations, properties or departments often needs to know which one is actually making money, without the cost and complexity of running each as a fully separate set of books. Class or location tracking splits one file into views by tagging transactions at the point of entry.
Designing the structure
We build a class or location structure that matches how you actually think about the business, whether that is by property for a real estate operator, by restaurant location for a multi-unit franchise, or by department for a professional services firm, and set it up so tagging happens automatically wherever the software allows.
Making tagging stick
A tagging structure only works if every transaction actually gets tagged. We build the habit into the monthly workflow and provide a short guide so anyone entering transactions, including your own team, codes new activity correctly the first time.
What you see each month
Alongside the consolidated profit and loss, you get the same report split by class or location, so a struggling property or an underperforming department shows up clearly instead of being averaged away in the total.
Where this connects
This often follows a chart of accounts rebuild, since a well-designed chart and a well-designed class structure divide labor: accounts answer what kind of transaction it was, and class or location answers where.
Common uses
A landlord splitting profit and loss by property, a multi-unit restaurant group splitting by location, and a professional services firm splitting by practice area, are three of the most common uses we set this up for.
Questions
Frequently asked questions: Class and location tracking
How many classes or locations can we track?
As many as make sense operationally. More categories give finer detail but slow down coding, so we help find the right level for your business.
Does class or location tracking work the same way in QuickBooks Online and Xero?
The mechanics differ by platform: QuickBooks Online uses classes and locations, Xero uses tracking categories, but the reporting outcome is the same.
Can we change the class or location structure later if the business changes?
Yes, though a restructure partway through a year means deciding whether to re-tag prior transactions or start the new structure from a clean date.
What does class and location tracking actually include, month to month?
Class and location tracking covers a class or location structure that matches how you think about the business, along with every transaction tagged consistently at the point of entry. The work runs inside QuickBooks Online or Xero, the file stays under your own subscription, and a senior principal reviews the output before it reaches you each period.
What access do you need to start class and location tracking?
View or edit access to QuickBooks Online or Xero is enough to begin; nothing about your existing subscription or login changes on our side. Any additional access needed for a specific deliverable, such as a bank portal or receipt inbox, is agreed with you first, and the scope is set out in your engagement letter.
What is the difference between class tracking and a separate set of books?
Class or location tracking splits one set of books into views by property, department or line of business, without the cost of maintaining several entities.
Can you set this up on an existing file with history?
Yes. We tag prior transactions where practical so comparisons across periods still hold up.
What if our records for class and location tracking are not up to date?
If your records are behind, we scope a catch-up first so class and location tracking starts from a clean, reconciled base. That catch-up is priced and timed separately from the ongoing engagement, so you always know what each part costs.
Who reviews the work before it reaches us?
Every deliverable under class and location tracking is reviewed by a senior principal before it reaches you. You keep access to the underlying file at every stage, so nothing about the work happens somewhere you cannot see it.
Related services
- BookkeepingChart of accounts designA chart of accounts built around how your business actually operates, so reports answer real questions instead of forcing everything into generic categories.
- BookkeepingIntercompany accountingBookkeeping across two or more related entities, with intercompany loans, charges and transfers tracked and eliminated so consolidated reports are not overstated.
Industries
- Real estate and property managementBookkeeping for property owners and managers tracking income, expenses and reserves at the level of each individual property.
- Restaurants and multi-entity franchise groupsBookkeeping for restaurant groups and franchise operators running several locations or legal entities at once.
- NonprofitsFund accounting for nonprofits tracking restricted and unrestricted funds, grants and donor reporting.
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.