 QuickBooks Online 2022. Bank rules split into two accounts. Get ready because it's go time with QuickBooks Online 2022. Here we are in our bank feed practice file we set up with a 30-day free trial holding down control, scrolling up a bit to get to the one to five percent currently in the home page. Otherwise no one is the get things done page. The business view as compared to the account and view switching to the account and view is something you can do by going to the cog up top switch to the account and view down below. We will be toggling back and forth between the two views either here or by jumping to the sample company file currently and the account view back on over to the bank feed practice file opening up a few tabs to put reports in right-clicking the tab up top to do so duplicating it back to the tab to the left right-clicking again and duplicating again as those are thinking jump on over to the business view or this is the account and view in the sample company file to see what the reports are at which are on the low left-hand side in reports back on over to the business view bank feed practice file it's still thinking but that's okay we're gonna go into the business overview on the left-hand side we're gonna go into the reports on the left-hand side close up the hamburger we're gonna pick one of those reports I think we're gonna do this time let's pick the balance sheet let's look at the balance sheet that's what we'll take a look at and it's gonna go from 010123121 and run tab to the right and we're gonna go into the business overview reports this time let's take a look at the profit and loss you always pick that one I know it's a good I like that report it's one of the major financial statement 010121 to 123121 and then we're gonna run that one going back then to the first tab back to the first tab we're gonna go into the business overview I'm sorry into the banking information because we're looking at the bank feed stuff now and then we're in the transactions up top and the banking tab if we were in the accountant view by the way it would be under the banking banking tab tab tab tab to the left tab to the top banking banking double tab banking tab back to the bank feed practice file close in the hamburger we're looking at the checking account and now we want to think about a transaction that we possibly want to split between multiple different things I'm gonna be working with these ones with which we saw last time which have a rule applied to them already so I'm gonna I'm gonna disable the rule I'm gonna disable I'm gonna break that rule so I'm gonna go into the rules one one where where the rules are at at this point if I open up the hamburger here then we've got the rules which are gonna be right here so I'm gonna go into the rules going into the rules and I'm gonna break those rules that's what rules are for right these last two I'm gonna break those so I could go into the drop down here I can delete them or I'll just disable them gonna hamstring the rules I'm just gonna disable but I can put I could put the hamstring back on so it's not like don't feel bad for the rule but I'm gonna disable it here and then this one's gonna be disabled to two rules disabled if I wanted to reable it put the ham string back together then I can of course hit the drop down and enable but right now it's disabled so I can do something new we're going to the hamburger up top again and let's go back into the bookkeeping side of things transactions up top and close in the handbook back out now I can work with these without messing it up so I'm gonna go in and say let's say that we have these types of accounts and we want to split them out and this is this could be common if you're trying to allocate to say different locations or different departments certain expenses this could be something that if you're in a not-for-profit organization and you're trying to allocate your expenses out that you're trying to use some kind of percentages to allocate the expenses you could also have the same thing on the revenue side we would need to split the items so let's hit this one right here and say okay let's let's say we were going to split between and let's use our class tracking again in order to do our splitting between two accounts so returned on the class tracking in a prior presentation but just for a recap if I right-click the tab up top and duplicate the tab and then I'm gonna show you where the class tracking thing is so you could turn that on if you don't have it on lap before you should have it on because you should be following us closely with everything we do and in the past we did this before so but any case in case you're not following as closely as you should be then we're gonna get into the account and settings on the left-hand side we're gonna go into the advanced area on the left-hand side and then you're gonna find the class tracking which is right here which we have turned on turning it on closing this back out going back to the first tab and so I'm gonna record this transaction as if like it's an expense let's say it's a supplies type of expense or something like that that I want to apply to two different two different classes so I'm gonna hit the category item here so it will be an expense type of form which it would normally be we're gonna be putting it into I'll call it American Express let's just do American this time just to make it different because I already have that other vendor in there or or yeah vendor save it all right the category now I could I could add this by having a different categories I'm gonna say different locations for example or I can basically have the classes be the only thing that's gonna be the distinguishing factor now because I'm gonna try to do different categories I'm gonna add another account here so to do that I'm gonna go to the business to the accountant view no have to do this again but I'm gonna hit the drop down switch to the accountant view because the business view drives me crazy with the category adding and if I've told into it once I've told them a hundred million times that I don't want you to drive me to crazy I don't want you to drive me to crazy I'm getting out of the car and then I'm gonna go down and say that now we're going back into the American Express gonna go to categorize it again and we're gonna say this is just we'll call it American and now I'm gonna add an account in a format that QuickBooks doesn't try to drive me to the crazy so then we're gonna hit the drop down let's make it an expense type of account so let's make it an expense type of account and then I'm gonna make it in other some kind of expense type of account so let's say it's going to be then let's call it just legal and professional possibly but the point is I'm gonna put up the end of it L1 I'm gonna indicate that it's gonna be location one we can also indicate the location by having a parents account possibly called legal and professional and then have two accounts below it which would be legal and professional L1 L2 for example with the sub accounts so these are a couple different ways you might do it we'll also assign it out with a class so I'm gonna save it and close it save it and close it obviously I kind of made this up because we're working with American Express but we're imagining it's legal that we're gonna now assign out to the class field which is now apparent and present given the fact that we turned on the class tracking we can then say I'm gonna assign that to L1 so we want it gonna be assigned to L1 but we want to have multiple categories that are gonna be impacted not having the whole thing applied just to the one account because I'd like to apply some of it to L1 possibly and L2 so we need to turn on the split category the split for this I'm gonna set up a rule down below I'm gonna go down to the rule down below I'm gonna create a rule and then I'll call it just this is gonna be the rule money out rule it's gonna be I'm gonna assign it just to the checking account but I could assign it to all of the bank feed accounts the condition is basically going to be the same here so I could say all or any the one condition description contains the American Express in it so I'm gonna keep that one there it's gonna be an expense type of form which is basically a check type of form without the check number that's gonna be that the form that will be used the category that it's gonna be going to this is where I want to assign the split so I would like to take the same amount and put it to two different accounts so I'm gonna hit the split button and then we've got the split percentage split versus the amount split so I can have a percentage kind of split which is common to be able to say whatever the amount that comes through is I want you to take some percentage of it and apply it to one versus the other or you can have a fixed dollar amount that's gonna be split I think the percent would be quite common especially if you're doing something where you're trying to say this is my this is the normal transaction that comes through and I'm trying to allocate some percentage to basically location one or location two or something like that so let's say we got a percent let's say it's going to be a 4060 breakout so I'm going to say this is going to be the 40 percent 40 percent breakout 40 let's do I need a percent side 40 percent and then we've got the category which is going to go to that expense account the class is going to be L1 and then down here I'm going to put the 60% which is going to go to the second location which I could indicate with just the L2 in the class breaking it out by separate classes and or I can make a separate account for it as well so I'm going to add another account here and I'm going to say new account what I call it I called it legal and professional so it's going to be an expense type of account it's going to be a legal and professional they wanted I want here but I'm going to change the name and hold on a second legal and professional I got to type it in now legal and professional fees L2 again we could have just one legal and professional and then to subsidiary accounts breaking out by location L1 L2 for example or you could just use the class tracking to break it out those are some options you might use to try to add some more detail to your financials if you if you so choose so I'm going to say save it and close it I'm going to add it to the class of L2 so now every time it picks up this expense account it's going to be breaking it out on a 60-40 basis between you know based on this rule which is kind of pretty neat pretty nice and could be quite useful depending on the circumstances so then that's going to be how we want to break it out let's go ahead and save it and close it and so there we have it so this this rule has then been applied let's go ahead and I can look at the rule now let's go to the the rule tab over here and just check out what has happened with the rule if I wanted to change the rule I could it's down here so I can edit the rule and just check it out on this side so it's breaking it out 6040 there it is looks good let's close that back out and let's go back then to the first tab and let's add one of them let's add one and see what happens add it and see what happens why don't you okay I will so we're going to add it and then let's go up to the to the balance sheet which isn't going to be too unusual but we'll check it out anyways so let's hold the control scroll up let's go into the checking account and see if I can filter filter it to find this one easily customizing I'm gonna filter it filter please there's too much stuff going on here and why I figure like this should be an alphabetical order but it's not all the time I want that one that's the one run it and so there it is and it's an expense type of form now if I go into the form it's not going to take me back to the bank feeds or the rules or anything it's going to take me to an expense form which is in essence like a check form without the check number and so there it is and you got to split the two categories on down below that it applied it out to as well as the classes that it applied it out to so what did this do it decrease the checking account by the full amount of the three two five nine ninety four and then it's split out between the two expense accounts and locations here as accordance with the rule closing it out let's check that out the more interesting part going back up top and back to the balance sheet back to the tab to the right or tap to the right and then if I run this here's my standard income statement where now I've got the legal and the professional down here broken out by the two different locations but what if I want to see the class tracking let's open up another report breaking it out by class right clicking duplicating this tab so we can open up another report broken out by class broken out by classes gonna go into the reports on the left hand side and then we're gonna go into closing the hamburger and we're gonna go down to the business stuff and let's make a P&L profit and loss by class poor father or police range change from 010121 123121 run it and so there we've got our information if I scroll on down we got the class tracking now two classes that have been tracked it so I can see now that there's just a couple ways that you might apply this kind of thing out if you're gonna use this kind of splitting option then it's it's likely that you might be doing it with class tracking because you might be tracking it and trying to put it in by location for example you could also apply this kind of thing if you had a small business and you're trying to apply out your business versus your your non- business and you're coming you have transactions out of the same checking account and you're trying to say for example the utility bill I'm gonna apply you know 60% to business and or whatever and and the rest to 40% to the personal or something like that so you could apply this kind of rule out in those instances which can be quite nice and but often it will be done in conjunction with this class tracking but you could break it out by basically have different accounts which assign the different categorization or possibly with a parent account and these breaking up the subsidiary accounts the reason the classes are quite nice and the location items is because you can get basically a net income number by location or by business versus professional business versus personal or something like that although that does mean that you're gonna you would have to then every time you enter a transaction assign a class to it which isn't too bad we got some information on that if you wanted to look in that in more detail but that's how you can apply the split and the rule to do that a bit more efficiently and get a little bit more detail as you do