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Level 1

Hi guys, how do I allocate business income separately? Ie different properties that I own?

 
4 REPLIES 4
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QuickBooks Team

Hi guys, how do I allocate business income separately? Ie different properties that I own?

You can use the location tracking feature, Forbes-dawsonest. Let me share how it works.

 

It will help you categorise income and expenses to different locations, departments, or properties. 

 

First, let's turn on the feature. Here's how:

  1. Click the Gear icon.
  2. Select Account and settings.
  3. Go to the Advanced tab.
  4. Click the Pencil icon in the Categories section.
  5. Turn on the Track locations feature, then select the Location label.
  6. Click Save, then Done.

Once done, setting it up, you can create a location. Then, add it to the transaction.

 

 

For more information, you can refer to this article: Set up and use location tracking.

 

If there's anything else that you need, please feel free to get back to this thread. Take care!

Highlighted
Level 1

Hi guys, how do I allocate business income separately? Ie different properties that I own?

does this work in quickbooks self employed ? I cant find the tabs mentioned

Highlighted
Level 1

Hi guys, how do I allocate business income separately? Ie different properties that I own?

there isn't any accounts and settings tab under my gear icon unfortunaly 

Highlighted
QuickBooks Team

Hi guys, how do I allocate business income separately? Ie different properties that I own?

Thank you for getting back, @forbes-dawsonest.

 

In QuickBooks Self-Employed (QBSE), you can assign an income as a business type or personal. One QBSE account is equal to one self-employed business. Therefore, you can only allocate your transactions to one business income.

 

The good news is, you'll be able to select different categories under the Category and Tags section. 

 

To learn more about categorising transactions in QBSE, feel free to open these articles:

 

You can also create and use rules to quickly categorise recent and past transactions, check out this link for your guide: Create rules to speed up reviews in QuickBooks Self-Employed.

 

Please let me know if you have any other QuickBooks questions by adding a comment below. I've got your back and I am more than happy to help. Keep safe!