I have an accounting question, I have some receipts which have business expenses on them but also personal ones.
I am currently importing my bank statements and deleting any personal expenses (I’m a sole trader) but I’m not sure what to do with the transactions that comprise of the above.
I usually scan in my receipts and store these too.
Thanks
Chiara
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The simplest method is to replace the total purchase with a new purchase for the amount related to business only.
For Example:
Total Purchase = £150.00
Business Element = £100.00
Go to your Bank Account on Quick File and click ‘Input New Transaction’ and follow the example below:
Make sure to enter the same date as the original purchase and details of the total amount of the original purchase.
Finally, delete the the original untagged purchase of £150.00 (using the above example):
Thank you , that’s very helpful