deposits & tags

Thanks so much, folks! A very workable solution to an issue that has been bugging me for a year. 

Hello, bstanard. We're glad to know that the information shared works for you. Please know that you can always post your other concerns anytime. We're all right here to help. Have a great day!

Is there an equally simple solution to splitting a single check payment to a distributor into two different entries, one of which is tagged to a particular event (say, 4th of July) and the other tagged to a separate event (say, Bastille Day)? 

Hello bstanard,

Thank you for chiming in! You can split the check payment into different categories. However, that depends entirely on how the distributor is set up to show the different holidays. If you would like to split the transaction, follow the steps below:

1. Go to Accounting  , then select Chart of Accounts.
2. Click the View register link of the account where the check was posted.
3. Select the check to expand the options.
4. Click the Edit button. This will open the check window.
5. Add the other accounts in the Category details section.
6. Hit Save and close.

After saving the transaction, it will show Split in the Chart of Accounts. Here's a sample screenshot for a visual reference:

Feel free to message us again if you need more help. We're always delighted to guide you.

Thank you, SashaMC.

Because I want to add tags to the two different postings, I need to be able to split the payment (e.g., a check to a liquor distributor for $450) into two amounts (e.g., $200 for Bastille Day and $250 for July 4th) as separate payments to the same payee. I will then add tags to each entry so I can get reports on each event separately.

Thank you for the additional information, bstanard. Let me help you with your transaction in QuickBooks Online (QBO).

As of now, the option to apply tags per category or item is unavailable in QBO. However, there are two alternatives to choose from that will allow us to generate reports on each event.

The first option is to utilize the Class tracking feature. This functionality can monitor your business based on department, office, and location. Also, this can provide a deeper understanding of your business segment's sales, expenses, and profitability. You can use this feature by entering the class name in the Class column in your Check window.

The second one is creating a separate expense transaction whether Expense or Checks. This way, you can run different reports on each event.

For the split payment, I recommend following the steps given by my colleague SashaMC.

If you have any additional concerns regarding Tags or Reports in QuickBooks Online, please don't hesitate to share them here in the Community space. Stay safe!

MelroseV wrote: The second one is creating a separate expense transaction. This way, you can run different reports on each event.

This is exactly what I want to do!      After clicking the [+ NEW] button, what do I pick to create a new expense transaction? 

I'm glad to have you back on this thread, @bstanard. I'm here to guide you through creating an expense transaction in QuickBooks Online (QBO).

You have two options for creating an expense transaction: Check or Expense. If you need to print a check, record the expense as a Check, instead of an Expense. If you paid for something via credit card, use Expense. If you paid for something via EFT, you should still use Check or Expense. You can enter EFT in the Check no. field.

To record a check here's how:

1. Sign in to your QuickBooks Online account.
2. Go to + New, then select Check.
3. From the Payee dropdown, select who you want to address the check to.
4. From the Bank Account dropdown, select the account from which you want the money to come.
5. Fill out the rest of the fields accordingly.
6. Select Save and close.

Meanwhile, if you've already paid for a business expense, record it as an expense.

For more information, you can check this article: Learn the difference between bills, checks, and expenses in QuickBooks Online.

Nevertheless, you can visit this article for future help on how to get a report for all money paid to a vendor in QuickBooks Online: Run a report with vendor totals.

Don't hesitate to return to this thread if you need further assistance with recording expense transactions in QBO. I'll always lend a hand. Stay safe.

Thanks for your answer, Eman_E,

It seemed to work.... I created two checks, numbered 7077a and 7077b, splitting the amount between the two events (tagging them Bastille Day and Christmas Party for later reports). When that was done, I excluded the original check (7077) transaction. When I looked for the new checks in the Categorized Transactions, I couldn't find them. What am I missing? Are they no longer visible in Bank Transactions?

Hello bstanard,

Welcome back! To verify some information, could you look at the checks created in QuickBooks to see if the amounts match those from the bank? Knowing this will assist greatly! 

Looking forward to your response! 

The original check was for $562.80 (which I excluded), and the two I created were each for half of that amount, $281.40.

These are the two I cannot find.

Welcome back to the thread, Bstanard. I'll help locate the two checks you created in QuickBooks Online (QBO). Let's dive into the process together and ensure you can swiftly get back to your workflow.

In QBO, all downloaded transactions are located in the Bank Feeds. Since you manually created the two checks, you can find them in the Bank Register. Here's how:

1. Go to Transactions and choose Bank Transactions.
   
   
   
   
2. Select Go to bank register.
   
   
   
   
3. Please select the bank account from the Bank Register window where these checks were deposited.
   
   
   
   
4. Click the Funnel icon. Then, choose Check in the Transaction Type dropdown.
5. Fill in the other filters to track the transactions easily.
6. Hit the Apply button.
   
   
   

The steps I provided should help you find the transactions, Bstanard. If you have other questions about handling banking concerns or running reports in QBO, tap the Reply button. I'm here to provide further guidance and support to ensure you have a smooth experience managing your finances with QuickBooks Online.