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M3PB
September 15, 2024
Solved

How can I divide my two projects' accounting in my same company, which I could do by using "categorizing" with Quick Books Desktop Pro?

  • September 15, 2024
  • 1 reply
  • 0 views
How can I divide Gas expense into two projects?
Best answer by MariaSoledadG
I have a workaround on how you can go about splitting your expense account into two different tags, M3PB.
 
Tags only track transactions and works per transaction. At the moment, splitting one expense into two different tags is unavailable. As a workaround, you can create a separate expense transaction and tag both separately. This way, the divided expense will show up and will be outlined in the Profit and Loss report separately.
 
In the meantime, I recommend sending a request to let our product team know how this is useful for your business. To do so, follow the steps outlined below:
 
  1. Go to the Gear icon, then Feedback.
  2. Enter your comments or product suggestions.
  3. Select Next to submit feedback.

This goes to our Product Development team to help improve your experience in QuickBooks Online. You can also track feature requests through the QuickBooks Online Feature Requests website.
 
Moreover, QuickBooks allows you to save your report to its current customization setting. For more details, I've added this article for reference: Memorize Reports in QuickBooks Online.
 
You can drop your reply or comment below if you need further assistance with splitting or managing your expense transactions. The Community folks are always here to help you with your concerns. Have a great day ahead!

1 reply

M
MAnneJ
September 15, 2024

Let me guide you through dividing your gas expenses in QuickBooks Online (QBO), @M3PB.  

 

To divide your gas expense into two projects in QuickBooks Online, you can use the split transaction feature.  

 

Here’s how you can do it: 

 

  1. Go to the + New button and select Expense.
  2. Fill in the necessary details such as the payee, payment account, and date.
  3. In the Category details section, click on the Split button.
  4. A new window will open where you can divide the expense amount between different categories or projects.
  5. Enter the amount for the first project and select the appropriate project from the Customer/Project drop-down menu.
  6. Add another line and enter the amount for the second project, selecting the corresponding project from the drop-down menu.
  7. Once you have allocated the amounts to the respective projects, click Save and close.

 

Additionally, you can refer to the article and learn how to reconcile your accounts so they always match your bank and credit card statements: Reconcile an account in QBO.

 

I'm always here to assist if you have additional questions about dividing your expenses. Have a good one. 

M
M3PBAuthor
September 18, 2024

I appreciate you sharing your expertise on this matter. 

I was trying to use "Profit and Loss by Tag Group" to make the two projects' PL.

But there seems to be nowhere to split one expense into two different tags.

Splitting categories won't show the divided expense in two different projects' income statement.

 

How can I split one expense into two PL?

(Example: a fuel purchase will be used for "gardening services" and "nursery," and I want to make the two PL for each project in one company.)

 

Thank you.

 

 

 

MariaSoledadG
MariaSoledadGAnswer
September 18, 2024
I have a workaround on how you can go about splitting your expense account into two different tags, M3PB.
 
Tags only track transactions and works per transaction. At the moment, splitting one expense into two different tags is unavailable. As a workaround, you can create a separate expense transaction and tag both separately. This way, the divided expense will show up and will be outlined in the Profit and Loss report separately.
 
In the meantime, I recommend sending a request to let our product team know how this is useful for your business. To do so, follow the steps outlined below:
 
  1. Go to the Gear icon, then Feedback.
  2. Enter your comments or product suggestions.
  3. Select Next to submit feedback.

This goes to our Product Development team to help improve your experience in QuickBooks Online. You can also track feature requests through the QuickBooks Online Feature Requests website.
 
Moreover, QuickBooks allows you to save your report to its current customization setting. For more details, I've added this article for reference: Memorize Reports in QuickBooks Online.
 
You can drop your reply or comment below if you need further assistance with splitting or managing your expense transactions. The Community folks are always here to help you with your concerns. Have a great day ahead!
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