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rng3
Level 1

How do i split a deposit between business income and material and supplies reimbursement?

I receive a check from the contractor for $575.00. $500.00 is for labor and $75.00 is to reimburse me for materials I have purchased. The expense for the materials already shows up in my list of transactions.
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Best answer July 24, 2020

Best Answers
Ashley H
QuickBooks Team

How do i split a deposit between business income and material and supplies reimbursement?

I hope you're having a great day so far, @rng3.

 

Let me guide you on how to split a deposit in QuickBooks Self Employed. In three simple steps, you'll have the transaction recorded properly in your books. Here's how:

 

  1. Go to the Transactions tab in the left-hand menu.
  2. Locate the check from the contractor and press on Split under the Type column.
  3. You can split by Amount or Percentage by clicking on the drop-down menu under Type. You can also add a line and choose multiple categories from one transaction.

 

That's all there is to it. To learn more about this process, please refer to this Community article: Split and Exclude Transactions.

 

I also recommend reaching out to your accountant for the best accounting advice and to review the transactions in your books. This ensures that there are no duplicates and everything is recorded properly. If you don't have an accountant, then you can visit this site to find an accountant or bookkeeper: Find a ProAdvisor.

 

Let me know if you need further assistance. I'm always here to help in any way that I can. Have a safe weekend ahead!

View solution in original post

1 Comment
Ashley H
QuickBooks Team

How do i split a deposit between business income and material and supplies reimbursement?

I hope you're having a great day so far, @rng3.

 

Let me guide you on how to split a deposit in QuickBooks Self Employed. In three simple steps, you'll have the transaction recorded properly in your books. Here's how:

 

  1. Go to the Transactions tab in the left-hand menu.
  2. Locate the check from the contractor and press on Split under the Type column.
  3. You can split by Amount or Percentage by clicking on the drop-down menu under Type. You can also add a line and choose multiple categories from one transaction.

 

That's all there is to it. To learn more about this process, please refer to this Community article: Split and Exclude Transactions.

 

I also recommend reaching out to your accountant for the best accounting advice and to review the transactions in your books. This ensures that there are no duplicates and everything is recorded properly. If you don't have an accountant, then you can visit this site to find an accountant or bookkeeper: Find a ProAdvisor.

 

Let me know if you need further assistance. I'm always here to help in any way that I can. Have a safe weekend ahead!

View solution in original post

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