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Buy nowI have a home office where 100% of my income is earned in this home office. I’ve been splitting utilities such as the electric, gas, phone, ISP, and ADT Alarm by a percentage. The percentage I count toward my home office is the square footage of my home office divided by the square footage of my home (times 100).
I don’t believe there’s an automatic way to do this in QuickBooks Online - but it doesn’t hurt to ask.
At the moment I’m manually splitting every instance of all shared utilities associated with my home office. I use an Excel spreadsheet to calculate the dollar amount.
As an example of how I’m splitting the cost of utilities goes like this:
If I have 5 utilities then I’d need to repeat the above 12 x 5 = 60
This is cumbersome.
There’s got to be a better way. (or so I hope)
Any thoughts and/or ideas?
Solved! Go to Solution.
Hello there, Peter. We appreciate your time and effort in splitting the cost of your utilities manually. Let’s work together to find a way to automate this process.
To begin with, you can use the Bank Rules feature in QuickBooks Online. It automates income and expense tracking by matching transactions, assigning categories, and splitting line items.
Here's how to set up bank rules:
Once done, QuickBooks automatically applies your rules to bank transactions in the Pending tab. For it to work effectively, ensure all the details provided are correct.
Keep us posted if you have other questions about managing utility expenses. We'll be around to help.
Hello there, Peter. We appreciate your time and effort in splitting the cost of your utilities manually. Let’s work together to find a way to automate this process.
To begin with, you can use the Bank Rules feature in QuickBooks Online. It automates income and expense tracking by matching transactions, assigning categories, and splitting line items.
Here's how to set up bank rules:
Once done, QuickBooks automatically applies your rules to bank transactions in the Pending tab. For it to work effectively, ensure all the details provided are correct.
Keep us posted if you have other questions about managing utility expenses. We'll be around to help.
This is a marvelous solution! Thank you so much!
You're always welcome, Peter.
We're glad to hear that you found the solution helpful. Your feedback truly motivates us, and we're grateful for the opportunity to assist you.
If there’s anything else you need, please don’t hesitate to ask.
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