Splitting Transactions
As a designer, you may encounter scenarios where a single transaction from a merchant pertains to expenses for two distinct client projects. In such cases, splitting the transaction into two separate entries can streamline your accounting processes and offer greater clarity in tracking project expenses. In this document, we’ll go over how to split your large transactions from one merchant into multiple transactions across multiple client projects.
Locate Your Large Transaction
As a first step, you’ll want to identify the transaction(s) that require splitting. You can do this by searching by merchant or item name on the Transactions page.
Review the large transactions from merchants and determine if expenses are attributable to multiple client projects. If so, click on the transaction to edit and select the Split button at the top of the transaction, as shown below.
Allocate Expenses Appropriately
Now, you’ll want to determine how to divide the total expense amount into your separate client projects. Zena gives you two options for splitting the amount: percentage or dollar amount.
Select which method you’d like to use and begin by filling in the amount or percentage you’d like to allocate to the first client project. At this time, you can also tag the split transaction by giving it a Room and Category tag.
As you fill in the split amount, notice the “Amount waiting to assign” transaction total adjusts based on the remaining total. This amount shows that there is a remaining amount that will also need to be assigned to a project. For example, this number would read $0.00 if the total transaction amount has been fully assigned to a project.
Tip: Use splitting transactions to split the cost of freight or sales tax. Add the appropriate accounting tag to easily track tax and shipping in QuickBooks.
Once you’ve allocated the amount to your client projects, select Save. The transactions will now be split into two.
Remove a Split Transaction
If you need to delete or remove a split transaction, you'll need to select the transaction and click on the button Edit splits from the sidebar:
Then, select the split item you'd like to delete and click Delete this split.
After the split transaction is removed, click Save in the bottom right corner.