how do i enter expense receipts in quickbooks desktop

Then, on the Split Transaction screen, designate each amount to the appropriate category. Trust us, your bookkeeping, reports, and taxes will be exponentially easier if you take care never to make this mistake.)įirst, click on the transaction within the Banking feed in QuickBooks, and select the “Split” option circled below. (The obligatory FABC disclaimer: While we understand mix-ups happen, do your best to never put 100% personal expenses on a business account, or 100% business expenses on a personal account. And it can be easily recorded as both within QuickBooks Online using the split transaction feature. She’s stuck-is the single expense business or personal? Everything is going great until she gets the first combined phone bill for both her personal and business lines. Karen likes her cell phone provider, so she talks to the manager (naturally) at her local store about adding a business line to her plan for her new RIA. Shared transactions are single expenses that are not entirely business expenses, but not entirely personal either.Ĭlear as mud, right? Let’s consider an example. If it's not immediately obvious, we're talking about shared transactions. Even during these unique times of social distancing, sharing can still be caring, at least for some transactions within your books.

How do i enter expense receipts in quickbooks desktop