Classes let you analyze your business performance by different segments - such as projects, properties, locations. By tagging transactions with a class, you can generate reports in your accounting software and better understand how each part of your business performs.
Classes are imported directly from QuickBooks or NetSuite into Mercury. You can apply them to transactions, ensuring your accounting data stays consistent and detailed across platforms.
Who can use classes
Classes are available to all Mercury organizations with enriched integrations to QuickBooks or NetSuite. Classes will only be visible to users with Accounting permissions in Mercury.
Note: Xero users are not yet supported, and QuickBooks Simple Start users cannot use classes due to QuickBooks plan limitations.
How classes work
Pulling classes from your accounting software:
Once you set up your enriched integration, Mercury will automatically import the Class list from QuickBooks or NetSuite.
Attaching classes to transactions:
You can apply Classes:
-
When sending money or paying bills:
-
When submitting reimbursements:
- Retroactively, when reviewing transactions on the Accounting page:
Syncing transaction data back to accounting software:
When you sync a transaction, we push Class details back to your accounting software. Once synced, Class information cannot be edited in Mercury.
Supported transaction types
You can apply Classes to all incoming and outgoing transactions except:
- Internal transfers
- IO payoffs
FAQ
Can I create a class from Mercury?
No, you create and manage class settings directly in your accounting software. Mercury will pull in the list of available classes, and present them for you to be able to tag transactions with them on the Accounting page.
Can I tag a line item within a transaction with a class, or only the whole transaction?
You can assign classes to a transaction on the Accounting page, and soon - for an individual line item in the Send Money / Bill Pay flow. In both cases, the class will show up on the line item when we sync to your ERP.
Does Mercury support accounting departments?
Mercury supports the ability to set up departments, under Settings > Departments. These can either be created directly in Mercury, or synced from your HR or payroll system.
However, at this moment we do not support the concept of accounting departments, or pulling those, like classes, from QuickBooks or NetSuite, to attach to transactions while you categorize. Tagging transactions with accounting departments can be done directly in your accounting software.