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Qubole
January 5, 2022
Question

Please help me with best practice for processing split itemized receipts per item. QBSE

  • January 5, 2022
  • 1 reply
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I am new to QBSE (Canada) and sole proprietorship accounting in general. I am looking for a suggestion for best practice to process a mountain of receipts (both paper and email).

 

They are mostly supplies I have bought for my sole proprietorship, that appear in receipts alongside items for personal use.  Maybe I might do this differently going forward, but I have maybe 150 receipts to go through like this.  Think wal-mart receipts.

 

I specifically would like to know if there is any way to process these receipts on an itemized line item basis, and select which are business and which are personal.  My process seems very slow and manual and I think there must be a better way.

 

My process now is:

1. Scan paper receipt into pdf.  download pdf sales invoices that I have paid.  Put them all in a local folder.

2. Create a pdf file name that includes the names of the items that are business use.  Use a calculator to sum up the business items, apply the appropriate tax multiplier, then append that total to the filename as well.

3. Upload the pdf to QBSE

4. When the receipt shows up in the "for review" list in QBSE, categorize it as a split transaction, take the business total from the pdf filename to enter into the business portion, then take the business items also from the filename and put in the description field, so it will be clear which items I categorized as business.

 

Is the way I am doing it seem reasonable, or is there a much better way?

1 reply

Angelyn_T
Angelyn_T
January 6, 2022

I appreciate you for sharing the details of your concern, @Qubole. I'm here to share with you some additional information about handling receipts in QuickBooks Self-Employed (QBSE).

 

Your process in tracking the receipts in QBSE is correct. You can snap the receipts and upload them to QuickBooks. When the upload finishes, you're ready to categorize them:

 

  1. Go to the Transactions menu.
  2. Look for the receipt.
  3. Select the receipt and categorize it. If you see a Needs action message, select it to review your transaction. Correct any details and select Save.

 

You may also attach your receipts to the existing transactions in QuickBooks.

 

  1. Go to the Transactions menu. 
  2. Find and select the transaction you want to attach the receipt to.
  3. Tap on browse or Attach receipt.
  4. Select an image and then click Save.

 

You can also use the receipt forwarding feature to email images of your receipts to QBSE. I'm adding this link as your guide: Forward receipt images to QuickBooks Self-Employed.

 

If you notice duplicate transactions, here's how to fix them.

 

Let me know if you have any other questions while handling your mountain of receipts. I'm more than happy to provide additional assistance. Have a good one!

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