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hollie_corbiere
November 21, 2022
Question

Splitting a transaction to multiple suppliers

  • November 21, 2022
  • 1 reply
  • 0 views

Hi, 

I am new to using Quickbooks Online so I hope that this is not a silly question. I have a bank transaction (EFT) that is a lump sum for paying all of our subcontractors. I would like to split this transaction and apply it to each of the appropriate amounts to the subcontractors such that at year end we will be able to create the correct T4A's for each. Ideally I would like to upload a journal entry from Excel into Quickbooks for this. Is this something that is possible to do?

 

Ex:

Currently recorded as:

Bank -$10,000

Payroll Expense $10,000

 

Would like to record as:

Bank -$10,000

Person A - Payroll expense $2,000

Person B - Payroll expense $5,000

Person C - Payroll expense $3,000

 

I hope this makes sense.

 

Thanks

 

1 reply

M
MirriamM
November 21, 2022

Thanks for reaching out to us, @hollie_corbiere. I'm here to help you in recording your transactions.

 

Right now, the option to import a Journal entry and split your transactions from bank feeds to multiple suppliers is unavailable in QuickBooks Online (QBO). In the meantime, you can manually enter a Journal entry to record the payroll expense for each supplier, then exclude the bank transaction showing on your bank feeds to keep your records in order.

 

To exclude your bank transaction, here's how:

 

  1. In the left menu, click Banking/Transactions.
  2. Go to the Banking tab.
  3. Select the account from the list.
  4. Locate the duplicate.
  5. Tick the box for the transactions you wish to remove and press the Exclude menu. 

 

Once done, the transaction will move to the Excluded section.

 

To know more about removing duplicate entries, I recommend visiting this article:  Exclude a bank transaction you downloaded into QuickBooks Online.

 

We recognize that each company has unique needs, and I can see how the feature you're looking for would benefit and empower your business. Thus, I encourage you to submit feedback to our Product Development Team. 

 

For future reference, here's an article that you can check for the best practices when reconciling your account: Reconcile an account in QuickBooks Online. It also provides information on what to do when encountering challenges during the reconciliation process.

 

If there's anything else you need help with, let me know by adding a comment. I'm more than happy to assist you. Have a great day!

H
hollie_corbiereAuthor
November 25, 2022

@MirriamM , thank you for your response. I have tried to use a manual journal entry to apply the payroll expenses to each of the individuals but even when I put their names in it does not then apply the amounts to their T4A amounts? Is there something I am doing incorrectly?

 

My journal entry looks like this:

Account - Amount - Description - Name

Payroll expense  - (-$10,000)

Payroll expense - $2,000 - October 15th Payroll - Person A

Payroll expense - $3,000 - October 15th Payroll - Person B

Payroll expense - $5,000 - October 15th Payroll - Person C

 

Is there another way that I could break out the payroll expenses to the individuals so as to correct the amounts to be recorded on their T4A's?

 

Thank you

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