How do you enter an expense as a capital allowance with a split between business and personal use?

Hey there, kimjones3.

Thanks for turning to the Community about tracking your expenses. I’m here to clarify about entering and splitting transactions in QuickBooks Self-Employed.

The application is used to support self-employed individuals in tracking business-related transactions. Expenses manually entered are automatically tracked as "business".

I suggest connecting your bank to QBSE, so you can categorise transactions. Let me guide you through the steps.

To link the bank:

1. Go to the Gear icon at the top.
2. Click on the drop-down, then sect Bank Accounts.
3. Enter the name or the URL of your bank in the search field.
4. Enter the login information you use for your bank, then choose Connect securely.

If you’re using the mobile app, you can follow the steps in this article on how to link your account to QBSE. Please proceed directly to the If you're using QuickBooks Self-Employed app for mobile section.

Once done, you can now start downloading transactions and split them according to the correct category. For more in-depth information, check out this link: Split and Exclude Transactions.

The information I provided should get you pointed in the right direction.

Stay in touch if you have additional questions about QBSE. Please know I’m just a comment away for help. Wishing you continued success.  

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@kimjones3 wrote:

Does anyone know how to enter and expense as a capital allowance with a split between business and personal use?.  I'm using the self employed software

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A capital allowance concerns buying fixed assets, plant and machinery and the like that report on the balance sheet

QBSE does not have a balance sheet, so you can not do that, nor can you record depreciation for the asset.

The UK version hopefully is more complete than the US version but in the US version

QBSE does not allow for any new accounts (categories) to be created
QBSE does not keep a customer listing
QBSE does not have a balance sheet so you can not enter the cost or the depreciation for a car/equipment
QBSE does not do inventory or cost of goods sold
QBSE can not do payroll
QBSE does not do  depreciation

Funny how almost EVERY rest for help is contact your accountant! My accountant gave the advice and it seems that Quickbooks Self Employed software is simply not capable of recording capital allowances. 

Quickbooks self employed UK software version does have a category for "depreciation expense"