There are some companies that use BQE CORE to organize their projects, time and expense entries, employees, and financial transactions by classes. This classification allows them to segment and categorize their data effectively. The Class information is often reflected in financial reports, which are generated based on the class assigned to each transaction, usually linked to the specific project involved. However, many companies impose restrictions on certain accounts, limiting their use to particular divisions, departments, or office locations to maintain better control and accuracy in financial management.
Within CORE, companies have the flexibility to assign classes at various levels, including project, activity, expense, and employee, where applicable. This multi-level classification ensures detailed tracking and reporting. To monitor the distribution of transactions across different accounts, you can run a Balance Sheet by Class report on a monthly basis. This report provides a clear overview of how transactions are allocated among classes within a specific account. In cases where discrepancies in class assignments are identified, they can be corrected by editing the class on the individual transaction, moving the transaction to a different account or transferring the total amount to another account to ensure accurate financial records.
Note: For companies that require more details in their bank accounts, particularly for managing cloud feeds or check stock, BQE CORE offers the option to use sub-accounts. This allows for more granular tracking and organization of bank-related transactions. However, it is important to note that the system does not support maintaining separate company details for each check stock, which means that while sub-accounts can enhance detail, they do not enable completely distinct company profiles per check stock.