Fuel usage split between personal and business

Good morning, @iaff801. 

It's great to see you back in the Community. I'd be more than happy to give you some insight into splitting your fuel usage between personal and business. 

If your personal expenses are coming out of your business account (the one that's already connected to QBO), then you could potentially use this solution to record the expenses: How to enter personal expenses: paying w/ company funds. 

However, if your expenses are coming out of a separate personal bank account, you don't need to track that in QBO because it's not tied to your business. 

To be sure, I recommend your accountant to review these two options to see what's best for you. 

Let me know which direction you and your accountant decide to take. We're always here to help get you back on track. Take care! 

Hi Candice,

I'm not convinced that either of those answers would correct my problem. Gasoline (actually diesel) is both a business and personal expense, since my truck is used for both. I always record it as a business expense in Quickbooks but at the end of the year I calculate the business portion and that is what I claim on my taxes. However, the rest of it remains in Quickbooks as business expense based on how I enter it. Maybe if I entered it as personal expense year long and then entered the business portion after I made the calculations as a journal entry at the end of the year? 

Actually I cant do that either as I use my business debit card to purchase fuel...

Thanks for your reply, @iaff801. 

I can imagine the hurdle you’ve been through in finding a way to split the fuel usage between business and personal expenses. Rest assured, I’m here to address your concern and accomplish your goal. 

With regards to your concern, we can create a Journal Entry to split fuel usage. I’ll show you how: 

1. Click + New, then select Journal Entry.
2. On the first line, select an account from the Account field. Depending on whether you need to debit or credit the account, enter the amount in the correct column.
3. Then, on the next line, select the other account you're moving money to or from. Depending on whether you entered a debit or credit on the first line, enter the same amount in the opposite column.
4. Check the amounts, and you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
5. Enter information in the memo section so you know why you made the journal entry.
6. Tick Save and new or Save and close.

However, as my colleague mentioned above, it’s best to reach out to your accountant to ensure that your books are accurate and to avoid messing up with your data. You’ll also be able to verify how to properly enter Debit and Credit so that accurate amounts will be reported on the Profit and Loss and other financial statements.

For further guidance about this process, here’s an article you can refer to for more details: Create a journal entry in QuickBooks Online. 

Once you’re all set, here’s a guide that can help you organize your transactions seamlessly: Categorize and match online bank transactions in QuickBooks Online.

I’m always ready to assist you if you have any other questions or concerns about transactions in QuickBooks Online. Tag me in your reply, and I’ll sprint back into action. Have a good one and keep safe.