Normally, only a single account can be associated with transactions entered into the Quickbooks register. There are times, however, when a transaction may have two or more accounts associated with it. If two accounts are paying the invoice, for instance, you’ll need to record this as a split deposit in your Quickbooks account. To learn more about split deposits and how to record them in Quickbooks, keep reading.
For Quickbooks Online, Intuit recommends recording a split transaction by entering it on the transaction page. So, after logging in to your Quickbooks Online accoint, open the form for the transaction associated with the split payment (e.g. deposit, check, etc.). Next, enter each partial payment on a separate line while selecting the appropriate account for each of the partial payments. Double-check to make sure the information is correct, after which you can save the transaction.
This is the easiest and most efficient way to record a split transaction in Quickbooks. But what if you’ve already entered the transaction in your register? As previously stated, online a single account can be associated with transactions listed in the Quickbooks register. Therefore, you’ll need to take a different approach when attempting to record a split deposit. Refer to the walkthrough below to record the transaction with the split payment in Quickbooks.
If you’ve already entered the transaction in your Quickbooks register, you’ll need to edit it from your Chart of Accounts. This is done by logging in to your account and choosing Accounting > Chart of Accounts. Next, select “View Register/Account History” under the “Action” column. This will bring up your Chart of Accounts, at which point you can search through all of your transactions. Locate the transaction associated with the split payment and click “Edit.” You will then see a new entry screen for the transaction. Go ahead and enter the partial payment amounts. Assuming it’s a split payment between two accounts, you should add the two totals to ensure they equal the total amount for the transaction. When you are finished, click “Save” to complete the process and save your changes.
After completing these steps, the transaction should reveal the correct total in your register while also displaying “split” in the account column. Sorry if you were expecting more, but that’s all it takes to record a split payment in Quickbooks!
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