You can go beyond the regular recording of all your business income and expenses to categorizing specific records of sales and expense.
In Mat Smart Shop, you can create transaction classes that can be assigned to your sales transactions and business expenses. This lets you track records by business location, department, or any other meaningful breakdown of your business.
Many business owners have different divisions of their business that they want to keep a close eye on; by using the transaction class feature, you can define these divisions and track their associated invoices and expenses. Businesses with different departments or locations can use classes to get profitability for each department/location.Greater control over expense and income categorization is the primary benefit of transaction class tracking.
For example, if you had a cleaning service with three locations, you might create Maryland, Yaba, and Island transaction classes for tracking profitability by location. At the end of a given period, the cleaning service could create separate reports for each location.
Transaction Class tracking helps you get an excellent overview of your company expenses and can see how your money is being spent. With this information, it’s much easier to stay on top of your budget.
This feature needs to be activated
- Select Transaction class from the main menu
- Check the Activate Class Box
- By default a general class is created , to add more classes click on new class
- Enter the name and description
- Click Add to list then click Save