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Level 1

Splitting a deposit among two different properties

hi!  i'm manually recognizing transactions from "banking" and transferring them to my register.  i use one checking account for two properties.  all my deposits include rents for two different properties.  i split the deposit amounts among the two classes and left the property at "all".  this option fails to capture the rent on the P&L for either property/class.

 

if i select one of my properties, then the correct rent for that property does show up on a P&L filtered to capture that property and class.  

 

I need to be able to see correct rents per property / class on the filtered P&Ls.

Solved
Best answer January 21, 2019

Best Answers
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QuickBooks Team

Splitting a deposit among two different properties

Hello there, NickiN.

 

I've replicated your concern and split a deposit. The split amounts are showing in the Profit and Loss by Class report. Let's make sure to categorize the deposit to an income/expense account. This way, it will show in the report. 

 

I've attached a screenshot for your reference.

 

 

In case you have more questions, just come back to this thread. I'm just a comment away. 

View solution in original post

12 Comments
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QuickBooks Team

Splitting a deposit among two different properties

Hello there, NickiN.

 

I've replicated your concern and split a deposit. The split amounts are showing in the Profit and Loss by Class report. Let's make sure to categorize the deposit to an income/expense account. This way, it will show in the report. 

 

I've attached a screenshot for your reference.

 

 

In case you have more questions, just come back to this thread. I'm just a comment away. 

View solution in original post

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Level 1

Splitting a deposit among two different properties

Thanks, Kristine, for your time!  i figured out that the P&L report only needs to be filtered by class - i skipped the "property" link altogether.  

 

i'll keep you on speed-dial if more Qs come up.  again, thank you!

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QuickBooks Team

Splitting a deposit among two different properties

Thanks for getting back to us, NickiN.

 

I appreciate you for following the steps provided by my colleague and I'm glad that you're able to successfully resolved your concern for today. Please know that you're always welcome to post here in QuickBooks Community if you have any other concerns. We're always here to help you out. 

 

Wishing you and your business continued success. 

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Level 1

Splitting a deposit among two different properties

Hello Kristine,

 

I have a similar situation and didn't follow your answer.  I have a single mortgage interest payment to make, which I would like to split among four properties.  However, the split screen defaults to a single property, and only allows to specify class for each of the detail lines.  

 

So how do I split a single payment to a vendor among multiple properties?

 

Thank you,

 

John

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Moderator

Splitting a deposit among two different properties

Thank you for joining into this thread, @slowcarr!

 

You can add lines to split your transaction into four properties. It'll be my pleasure to help you accomplish this.

  1. Go to the Banking page.
  2. Under Bank and Credit Cards, select your bank account.
  3. From the For Review tab, find one of your payment transactions.
  4. Select Split.
  5. Hit Add lines.
  6. Choose specific properties for your payment.
  7. Click Save and add.

This way, you can successfully split your payment transactions into four properties when adding them to your register.

 

In addition, here's an article you can read to learn more about splitting your transactions: Assign, Categorize, Edit, and Add your Downloaded Banking Transactions.

 

Lastly, you might also check this helpful article for your future reference: How to Set and Use Banking Rules for Downloaded Transactions?

 

Let me know in the comment section below if you have any other questions. I'll be always around here in the Community ready to help.

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Level 1

Splitting a deposit among two different properties

Thank you Jonpril….I appreciate your reply.  Unfortunately, those are the steps I followed.  My problem is that I am only allowed to categorize the split details by Class.  I have both Classes and Properties (Locations) and need to categorize in this case by Properties.  Properties is above the detail line.  Sending a screenshot in the next post.  

 

John

Level 1

Splitting a deposit among two different properties

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QuickBooks Team

Splitting a deposit among two different properties

I appreciate your effort in providing me with a screenshot of your concern, @slowcarr.

 

Currently, there isn't an option to categorize the split details by Property.

 

We work hard to provide you with the best product to use for your businesses. But as of the moment, you're only able to categorize the split details by Classes as mentioned above.

 

Please let me know if you have any other concerns.

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Level 1

Splitting a deposit among two different properties

Kristine Mae,

I have a similar a question. My accountant said:

"I still need you to get me each expense account split between the 2 properties"

We have one credit card and bank account we use for 2 short term rental properties.

Thanks!

Ian

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Moderator

Splitting a deposit among two different properties

Hello iana,

 

Thank you for posting here in the Community. Allow me to lend a hand with your concern about splitting between the two properties.

 

You can use the Class or Location tracking feature to split your expenses into the two properties. However, you'll need to be on the Plus or Advanced version of QBO to do so.

 

However, you'll need to edit existing or prior transactions individually and add the property. You can refer to the sample screenshot for your visual guide:

 

 

In case you need a guide on turning class and location tracking, you can visit the support articles I'm adding on this:

 

Please let me know if you have further questions or concerns about splitting expenses. I'll be here to help.

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Level 1

Splitting a deposit among two different properties

I want to echo the concern about not being able to split a cash transaction by 'property'.

 

As a real estate business that receives payments from a single customer for multiple properties and makes lump sum payments to vendors for multiple properties, this functionality is critical!!!

 

Regards

Highlighted
Level 1

Splitting a deposit among two different properties

Echoing what JF12 said, which is what brought me to this forum.  I also need to split a deposit among multiple properties.  I guess in this case, we have to treat the class as a property, and the property as a class.  The line items should have a drop down feature for selecting location/property just like class.

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