Hi,
Is it possible to split funds with a bank rule to set up a revenue sharing logic? For example, can I assign 20% of an incoming transaction to one AP account and 80% to a different AP account?
Thanks!
Solved! Go to Solution.
Thanks for reaching out to us, phaedrus.
Yes, you can set up bank rules to split revenue between two Accounts Payable (AP) or Accounts Receivable (AR). However, it is recommended to keep only one AP or AR account because bills and invoices are automatically posted to the default accounts.
Here's how:
You can also consider creating parent and sub-customers to group or divide your open receivables and using location tracking for payables. Refer to this article for more details: How to group Accounts Receivable or Accounts Payable account types.
When everything is in order, you can read this for future reference: Reconcile an account in QuickBooks Online. This contains instructions for ensuring that your bank and credit card statement balances always match your QuickBooks balance.
We'll always be available to help if you run into any other QuickBooks questions. Have a wonderful day!
Thanks for reaching out to us, phaedrus.
Yes, you can set up bank rules to split revenue between two Accounts Payable (AP) or Accounts Receivable (AR). However, it is recommended to keep only one AP or AR account because bills and invoices are automatically posted to the default accounts.
Here's how:
You can also consider creating parent and sub-customers to group or divide your open receivables and using location tracking for payables. Refer to this article for more details: How to group Accounts Receivable or Accounts Payable account types.
When everything is in order, you can read this for future reference: Reconcile an account in QuickBooks Online. This contains instructions for ensuring that your bank and credit card statement balances always match your QuickBooks balance.
We'll always be available to help if you run into any other QuickBooks questions. Have a wonderful day!
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