Managing multiple revenue streams from subcontracted and private work is a great way to stay organized, especially when navigating different tax obligations, Ronnie.
If a single transaction contains revenue from multiple sources, you can use the split option to assign the appropriate categories. This enables you to break down payments or income into portions and accurately categorize each.
Follow these steps to split a transaction:
- Go to the Transactions menu.
- Find the transaction you want to split.
- Under the Type column, select Split.
If the income is recorded as separate transactions, simply assign the correct category to each.
Also, I suggest consulting your accountant or tax advisor to determine the correct categories for your revenue streams.
For easier management, consider using bank rules to automatically categorize income based on the payer.
Feel free to reach out if you have further concerns. We’re here to assist!
