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Needed
March 20, 2020
Question

Splitting expenses

  • March 20, 2020
  • 2 replies
  • 27 views

I just moved to QB online. In the past, I charged all expenses on my CC, and when posting the payment, I put the whole charge in Advertising and Promotion.  Later I would go into that Advertising and Promotion and split out the costs to the appropriate category. 

 

I don't see the option to do that with QB online. Is that option available? Can anyone direct me to it?

 

Thanks,

Ed

2 replies

MJoy_D
MJoy_DQuickBooks Team
QuickBooks Team
March 20, 2020

Welcome to the Community, @Needed.

 

You can only split a transaction from the For Review tab. You'll have to Undo the transactions from the Reviewed tab.

 

To undo the transaction:

 

  1. On the Banking page, select the Banking tab.
  2. Locate the transaction.
  3. Click Undo under the Action column.

You can go to the For Review tab to split the transaction:

  1. Find the transaction on your For Review tab. 
  2. Click to open transaction and select the Split button. 
  3. Provide all the necessary information on the window that appears.
  4. Click the Save and add button once you're done. 

Check this article for more information: Enter a split transaction into the register. Also, here's more information on how to assign, categorize, edit, and add your downloaded banking transactions. 

 

Stay in touch if you need help with your transactions. I'm always here to assist.

G
garyslens
July 20, 2021

Appreciate the answer, but I'm confused by this. What I want to do is enter an expense paid using two different payment methods. Part Cash and part Credit Card. I tried to follow your instructions, but it did not seem to work correctly for this.

 

What am I missing?

E
edgarh
August 28, 2021
@garyslens wrote:

Appreciate the answer, but I'm confused by this. What I want to do is enter an expense paid using two different payment methods. Part Cash and part Credit Card. I tried to follow your instructions, but it did not seem to work correctly for this.

 

What am I missing?

The answer given was for how to treat credit cards and that making a payment against the card is never an expense, only a payroll of a liability.

 

What you asked, I believe, is how to record two different methods of payment against a vendor bill if ypu are paying or receivi g against a customer invoice.  Each is a separate transaction of Pay Bill or Receive Payment.

 

If you create a Sales Rdceipt and want to split customer payment without changing to an invoice you would enter a negative line item on the Sales receipt for one method, post to Undeposited Funds account and then finalize the receipt payment with whichever type remains


I'm somewhat new to QB but I believe you may be able to achieve what you want by creating a Journal Entry. Journal entries allow you to move money between accounts to balance your books in a certain way.

 

In your case, you could create a journal entry, debiting $X from a checking account and $Y from a Petty Cash account. You can then create an expense from a receipt and match it to said journal entry.

 

You can see how to create journal entries here 

Rustler
Rustler
Level 15
March 21, 2020

@Needed 

 

Your method is going to cause some issues if you are ever audited.

The work flow is to create the CC account, then enter each charge you make in that CC account selecting the expense account required.
Then you pay the CC to pay down the debt.
A CC statement is not sufficient in an audit to show expenses, the actual receipt for the expense is.

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