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Have two businesses sell on ebay

how to devide expenses between two businesses
1 Comment 1
QuickBooks Team

Have two businesses sell on ebay

Hi there, catbro742.


Thank you for visiting the QuickBooks Community. I'll be sharing steps to ensure you can divide expenses into two businesses.


To start with, you'll have to create a service item for business A and use the income account for this. Beforehand, I suggest consulting an accountant before performing the process below to ensure your records are in shipshape. They can provide suggestions on how to properly handle split entries, especially with the category to use for the transactions.


Here's how:


  1. Go to the Get paid & pay menu and select Products and services.
  2. Click New. Then, choose Service.
  3. Add a name. If you track SKUs, enter an SKU for the product.
  4. From the Category dropdown, select the category that best describes your product or service. 
  5. Select the I sell this product/service to my customers checkbox. If you don't sell the item, you can leave it unchecked.
  6. In the Sales information section, enter a description. This is what your customers will see on their sales form.
  7. Enter an amount in the Sales price/rate field.
  8. Choose the Income account dropdown arrow and the account you want to use to track the sale.
  9. Fill in the other necessary field.
  10. Press Save and Close.


Then, create an expense transaction and select the service item you've created. For business B, you'll have to enter an invoice and record the payment on the Receive payment page. This way, you'll be able to see that the expenses are already separated into various transactions.


Additionally, you also have the option to utilize the Split feature in QuickBooks Online. This option helps you to divide transactions, such as a large business travel expense, between multiple accounts for better tracking. Then, use either class or category.


Lastly, you may refer to this article to view steps on how you can record multiple accounts in a transaction by splitting them on the Register page: Enter a split transaction into the register.


Feel free to swing by anytime if you still have questions or concerns with splitting transactions. I'll be around to help. Take care and stay safe.

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