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Z
zac-zenzyc-io
May 11, 2023
Question

How do I split a transaction, recognise 25% of the cost and exclude the rest? Eg. internet costs - I want to only record 25% to 'internet', and exclude 75%. Thanks.

  • May 11, 2023
  • 1 reply
  • 0 views
Extra info: 

I'm self-employed, and work from home.  So I can assign costs such as internet, home insurance, rent, etc, to my business.  
I can see a way to split costs between different categories, but I can't find a way to split a transaction so I only record a portion of the transaction to my business, and exclude the rest.  

BTW - I tried using the self-employed version of QB, and it's pretty basic.  I therefore have to use the regular QBO version.   

Thanks for your help.  

1 reply

F
FateCandylaneT
May 11, 2023

Thanks for posting here today, Zac. I'm here to share insights on how you can split your transactions.

 

With QuickBooks Self-Employed, the ability to split the transaction by recording the 25% and excluding the rest of the amount is unavailable. You'll have to create the transaction again and manually calculate the 25% amount when entering them.

 

You'll first need to exclude the existing transaction and create a new transaction with the amount you've manually calculated.

 

Moreover, you can create and use rules to help you review and categorise recent and past transactions on your account.

 

Let us know in the comments below if you have additional questions or other QuickBooks concerns. We're here to help. Have a good one!

Z
zac-zenzyc-ioAuthor
May 11, 2023

@FateCandylaneT  - You didn't read my query, it seems.   As specifically stated in the query - I'm using the regular QBO as the self-employed version doesn't suit - it can't accommodate my other needs - it's an extremely basic package.  And this split is about the only feature that exists in self-employed. 

 

I'd be extremely grateful if someone could help me figure out how to do this split in QBO.  

 

thanks.

Z
zac-zenzyc-ioAuthor
May 11, 2023

QBO allows a split between categories.  Is there a way to create an 'exclusion' category, and in this way exclude (eg) 75% of some of my expenses?

 

I've tried this already, and can't quite make it work.  But it should be possible, shouldn't it? 

 

Or is it only possible to exclude an entire transaction, and not to exclude part of a transaction?

 

Thanks.

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