Split bank transaction between two suppliers (e.g. interac e-transfer fee)

[abcschuetze]

Hi there,

First time posting, I couldn't find anything helpful after a long search.

I am on Quickbooks Desktop and am downloading bank transactions via the bank feed. I cannot figure out how to split a single bank transaction into two transactions to be applied to two vendors.

Example 1: For example, I have a bill from a vendor over $100 and I paid it via interac e-transfer. My bank charges a $1.25 fee for the e-transfer and the downloaded transaction is $101.25. I would like to split the transaction in such a way that I can apply $100 to the bill from the vendor and apply the $1.25 to the vendor "bank." (and of course, I'd like to record the $100 in the relevant expense account and the $1.25 under "banking fees") I have no idea how to do this.

Example 2: I have two vendors who are related to each other so sometime several of their invoices get combined in a single payment. Say, I have a $100 bill from vendor A and a $200 bill from vendor B, the bank download just gives me a single $300 transaction (or $301.25 if I paid by interac online, see above) and I cannot find a straightforward way of splitting them between the different vendors and relevant expense accounts.

Help?

[Rebecca R]

Hi there abcschuetze,

First of all, welcome to the QuickBooks Community. I'm glad you're here! Using Bank Feeds in QuickBooks Desktop is a fantastic feature that makes processing bank and credit card transactions a much more efficient process, leaving you with more time to get back to what you love. There are a couple of ways that you can match multiple transactions with your downloaded bank transactions, and I'd love to show you how.

Follow the steps below to match multiple transactions with the transactions downloaded from your bank feed:

1. Navigate to the Banking menu.
2. Click to Use Register.
3. Choose the specific Bank account where the downloaded transaction is recorded.
4. Select the specific downloaded bank transaction.
5. Put a check mark on the transaction you want to match.
6. Choose Add More Details from the Action drop-down.

Another way to match multiple expenses to one transaction in the bank feed is during the reconciliation process. From there you'll be able to select any 1 or more entered transaction to equal one transaction from the bank feed. 

Please let me know if you have any other questions. I'm here to help!

[abcschuetze]

Hi Rebecca R,

Thanks for your help. Unfortunately, it doesn't get me where I want to go. Is your advice related to the same Quickbooks version I am using? (Quickbooks Premier 2020, for Windows desktop) I am asking because I can only follow your steps to 4, I am not seeing any place to put a check mark (your step 5) and I have no idea where the "action drop down" or "add more details" would be located. I am attaching a screenshot of what I get when I select "Use Register."

What I can do from that screen is to use the "split" button. Using this, I can _enter_ the transaction exactly how I want it, with split lines for each vendor, and the relevant A/P account selected, however, when I close the split window to record the edited transaction, I am getting an error message "You can only select an A/P or A/R account for the first line of a journal entry..." so that's not helpful either. :(

[JamesM]

Hi abcschuetze. I want to make sure you get the support you need with this. I recommend contacting our support team for further assistance. One of our specialists can share your screen and help get to the bottom of this ASAP. Here are our contact details. Feel free to ask other questions. I'm here to steer you in the right direction.