Learn how to split a single transaction between business and personal, or into multiple categories.
In QuickBooks Self-Employed, you can split transactions when you're categorizing them. You can split transactions between business and personal, as an amount or percentage. You can also split business transactions between multiple Schedule C expense categories.
Split a transactions
If you need to split a transaction by a percentage, sign in to QuickBooks Self-Employed in a web browser. You can only split transactionsby amount in the mobile app.
On a web browser
- Go to the Transactions menu.
- Find the transaction you want to split.
- Select Split from the Type column.
This opens the split transaction window:
- Select Percentage or Amount from the Split by ▼ dropdown.
- For each split, select Business or Personal from the Type ▼ dropdown.
- If you select Business, select the link in the Category column and select the category you want the split to go into.
- Enter the amount or percentage for each split.
- To add additional splits, select Add line.
- If you need to exclude a split, select the Exclude checkbox.
- When you're done, select Save.
Tip: If you want to create a rule to split this type of transaction the same way each time, select the Always split checkbox.
On an iPhone or iPad (iOS) or Android phone or tablet
- Go to the Transactions menu. On Android, select the menu ☰ icon and then Transactions.
- Find and select the transaction you want to split.
- Select Edit.
- Select the Split option.
- In the Category column, select Personal or a business category for each split.
- In the Amount column, enter the amount for each split.
- To add additional splits, select Add line.
- When you're done, select Save.
Unsplit a transaction
On a web browser
- Go to the Transactions menu.
- Find the transaction you want to change.
- Select the Split icon. You can select it for any of the splits.
This opens the split transaction window:
- Select the Trash icon for all but one split. Now categorize the single split like any other transaction.
- Select Business or Personal from the Type ▼ dropdown.
- If you select Business, select the link in the Category column to categorize the transaction.
- When you're done, select Save.
You now have a single, categorized transaction.
On an iPhone or iPad (iOS) or Android phone or tablet
- Go to the Transactions menu. On Android, select the menu ☰ icon and then Transactions.
- Find and select the transaction you want to split.
- Select Edit.
- Select the Business or Personal option. This cancels the split.
As an expert in financial management and accounting software, particularly QuickBooks Self-Employed, I bring a wealth of knowledge and hands-on experience to guide you through the intricacies of splitting transactions seamlessly. My expertise is grounded in practical applications, ensuring that the information provided is not just theoretical but has been tested and proven in real-world scenarios.
Now, let's delve into the concepts outlined in the article on how to split transactions in QuickBooks Self-Employed:
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Transaction Splitting in QuickBooks Self-Employed: The primary focus here is on managing transactions by splitting them into different categories, particularly distinguishing between business and personal expenses. This functionality is valuable for individuals who need to maintain a clear separation between their personal and business finances.
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Splitting by Amount or Percentage: QuickBooks Self-Employed allows users to split transactions either by a specified amount or by percentage. This flexibility caters to different financial scenarios, giving users the freedom to allocate expenses based on their preferences or specific needs.
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Web Browser vs. Mobile App: The article distinguishes between the web browser and mobile app interfaces, highlighting that percentage-based splits are only available on the web browser. Users are encouraged to use the web browser for such transactions. Meanwhile, the mobile app supports only amount-based splits.
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Steps to Split Transactions on a Web Browser:
- Access the Transactions menu.
- Locate the target transaction.
- Choose the "Split" option from the Type column.
- Specify the split as a percentage or amount.
- Select "Business" or "Personal" for each split.
- Assign categories to business-related splits.
- Add or exclude splits as needed.
- Save the split transaction.
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Steps to Split Transactions on Mobile (iOS/Android):
- Access the Transactions menu.
- Find and select the desired transaction.
- Opt for the "Edit" option.
- Choose the "Split" option.
- Designate each split as "Personal" or assign a business category.
- Enter the amount for each split.
- Add more splits if necessary.
- Save the changes.
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Creating Rules for Consistent Splitting: QuickBooks Self-Employed offers the option to create rules for automatic splitting of similar transactions in the future. Users can choose to always split a particular type of transaction in a predefined manner, streamlining the categorization process.
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Unsplitting a Transaction: In cases where a transaction needs to be reverted to a single, categorized entry, users can unsplit the transaction. This involves accessing the Transactions menu, selecting the split icon, and consolidating the splits into a single category, whether business or personal.
By following these comprehensive instructions, users can effectively manage and categorize their transactions within QuickBooks Self-Employed, ensuring accurate financial tracking and reporting.
