How To Split Transaction In Quickbooks

March 27, 2024

Quickbooks allows its user to split transactions, If you want to learn how you can split transactions in Quickbooks, read this blog and you will learn everything you need to know About the split transaction.

If you have multiple GL Accounts which are used for transactions, these accounts are referred to as split in Quickbooks. This feature allows you to split the transaction into two 2 schedule c categories one of which is used for personal transactions. and set a different set of rules for further transactions.

Let’s understand it with an example. These transitions you use for rental expenses and the transactions that are connected to taxes can be seen as split in Quickbooks.

Table of Contents

Steps To Split A Transaction In Quickbooks Application

On the Left Side of the Screen Click On the accounting option in the menu and then select the Transaction option. Now from the Transaction List, you can select the transaction you want to split and on the right side of the transaction, you will see an arrow button. Click on the arrow and then click on split Transaction to Split the Transaction.

Step To Edit Or Delete A split transaction In Quickbooks Applications

Select the Transaction if you want a delete or edit.
Go to the editable fields and there you will see a Good to Know Section and here you will be able to see the transaction.
Here a link will appear and After Clicking on it you will see a window containing the details of the transaction.
Tap on Split transaction or data field to delete or edit the transaction.
If you are done editing then click on save, otherwise you can delete the transaction by clicking on delete button.

Things You Can Face While Deleting A Split Transaction

Sometimes when you are trying to delete a split deposit the user may not be able to see the un Deposited Funds in the transactions list. In such a case you need to contact our Quickbooks support team to solve this method.

Steps For Split Invoice Into Two Payments

You have to select the Invoice date, Percentage and the invoice payment term. Invoice Percentage is the total invoice and the date is the date you want to provide invoice to the customer.
After you click on Add a new entry, It will create a Split Transaction.
Tap on Save and it will generate the new Invoice ID.

Steps To Split Lines In Quickbooks:

In the Banking Menu tap on Use register option.
Choose the account from the register list for which account you want to apply transaction payment.
After tap on blank entry and there you can click on date to change date and if you want to change it then click on number to change number.
Enter the customer name and total cost of transaction in the respective field for the transaction. And here you can enter the amount that the customer has to pay you.
Now Select the bank account in which you want to receive the payment.
In the Customer:Job field type the name of the customer and click on Record.

Steps To Split A Deposit In Quickbooks

In the banking menu, click on the Banking option and now you can anonymize your bank account and then you can select the large amount and click on Split now on this page you’ll see two default payments and then you can add new lines at the bottom of the second payer’s drop-down menu.

Steps For Split a bank transaction into Various Project

In the banking Menu, Select the Bank Account for which you want to split the transaction.
Which transaction you want to split Search and select them.
Click On Split button and next to Add Button.
Now Select the Right Vendor from the Drop-Down Menu and enter the information correctly.
If you want to split from the drop-down menu then Select the project. And place a check mark on the billable option if possible.
Save the split and Add it to the Split transaction.

Step For Split A Transaction Into Various Location

Go to Charts of Account in the Accounting Menu.
Locate the Account and Select the view register option under the action column.
Click on Edit After Selecting the Transaction.
In the new window to add with the amount enter other Accounts and click on Save.

Steps To Un-split The Transaction In Quickbooks:

In the Transaction Menu look for the transaction you want to Un-Split.
Click on the Split icon and in the new window click on the trash Icon.
Click on Save and the transaction Will be Un-split.

Steps To Split Transaction For Self Employed In Quickbooks:

Search for the transaction in the transaction menu.
Now, In the Type column, select the Split Option.
If you want to Split the Drop-Down Menu then Select the percentage of amount .
Select the type of Split i.e. Business or personal which you want for each and every split.
If you want to select Business, then Select the link in category column and the category that you are splitting.
To Add an Additional Split click on Add Line and Click on Exclude to exclude the split.
In the End Save The Transaction.

Steps To Show Split Credit Card Transactions

Select theCredit Card Transaction option in the Review tab.
Select the Transaction that you want to split from the Transaction List.
Click On Split Option and Select the Appropriate category.
Click on save button and then Save the split credit card transaction.

Steps To Show Split In Quickbooks Report

In the Reports option search for Transaction List With split using the search Bar.
Tap On customize and select the period of the report.
Tap on the Run report button to Show Split in quickbooks Report.

Conclusion

After Reading this Article you should be able to split the Transaction in QuickBooks and you should also be able to edit or delete an already existing Split transaction according to your needs.

If you face any issues or have any doubts regarding the Split transaction You can Call our Quickbooks ProAdvisor for more information regarding the same.

FAQ

Question: What do you understand by Split Invoice in QuickBooks?

A split Invoice is made by dividing a large invoice into small invoices for smaller payments. With the help of this facility, we can make settlement more flexible by splitting the large payment amount of several principal invoices into many smaller payments.

Question: What is Split in General Ledger?

In Quickbooks General Ledger, Split Means that there is more than one General Ledger Account that is related to this Transaction. If you use a cheque transaction from a rental Expense account which may be associated with the GST Account. There are chances that This transaction may show as a split transaction.