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issho
Level 2

How can i split the expenses in two different types like fixed and variable expenses?

 
3 Comments 3
Sal2211
Level 1

How can i split the expenses in two different types like fixed and variable expenses?

Since there is nothing called a fixed or predictable budget, you need to plan your expenses every month. Life changes, time changes, situations change, and so should your budget. I can tell from experience that being as predictable as possible will help you have more fixed expenses and less variable ones. For instance, the mortgage or rent you pay every month, the salary you pay to your security guard, the monthly installments for a certain loan you took, insurance, and electricity and water bill form a part of your fixed expenses. 

 

Whereas, unpredictable or unforeseen expenses, such as the check you received for an expensive dinner from last night, the shopping trip with your friends, the expensive phone plan form a part of your variable expenses. There can be other types of variable expenses as well, such as your car may break down all of a sudden, you may need to get immediate repairs at home or office, you might need to buy a new phone, etc. 

 

What you can do to have a month with more planned or fixed expenses is that you can try to plan most parts of your expenses. Knowing which, you will be able to identify and cut down on unnecessary expenditure. For example, you can move down to a cheaper wifi/phone plan and create a list of things you actually need to buy. Also, conduct an occasional check of your past months' spending history. Your bank statement and credit card expenses can be a real help in this. If you need help with budgeting, you can read my blog

And you can read this to know how you can stay ahead of the financial game

Rustler
Level 15

How can i split the expenses in two different types like fixed and variable expenses?

Your payment would look something like this for a total of $50

 

fixed asset account, $35

expense account, $15

IamjuViel
QuickBooks Team

How can i split the expenses in two different types like fixed and variable expenses?

It's great to have you here, @issho.

 

You can split your expense transaction in the Bank Feeds and your register. I can guide you on how to do it.

 

To split a downloaded bank transaction in the Bank Feeds, here's how:

  1. Go to the Banking menu.
  2. Choose the Banking tab.
  3. Select the For Review section.
  4. Double click on the transaction you want to split to open it.
  5. Click the Split button. 
  6. Enter the category or type of expenses you want. 
  7. Click Save and Add.

Meanwhile, to enter split expense transactions in your register, here's how:

  1. Go to the Accounting menu.
  2. Choose the Chart of Accounts tab.
  3. Select the account where the transactions will be posted.
  4. Click the View Register link.
  5. Search for the transaction you want to split.
  6. Click the Edit button.
  7. Enter the other accounts to add with the amount.
  8. Pick Save and Close.

You can read through this article for more detailed steps: Enter a split transaction into the register.

 

To learn more about managing your downloaded bank transactions, you can check these articles:

Let me know if you have other questions. I'm always here to help.

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