Split Bills

Discussion in 'Microsoft Accounting' started by ExtraCubicle, May 13, 2008.

  1. ExtraCubicle

    ExtraCubicle Guest

    I don't understand how to divide a bill from personal and business. I operate
    a business from my home so I split my utility bills, for example, between
    personal and business expenses. When I enter in a new bill, I can split it
    there and I use an expense (utility) account on one line, and then on the
    next line I use Owner's Draw to show the portion that I pay for personally.
    But when I go to Pay Bill's, all I can do is select one financial account and
    check the total amount of the bill. Do I need to set up a fake bank account
    that represents what I pay for personally? Even if I do how do I pay for one
    bill with two financial accounts?
     
    ExtraCubicle, May 13, 2008
    #1
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  2. ExtraCubicle

    DL Guest

    If you get a utility bill for 100 & you split 40 bus, 60 pers.
    Then if you enter 100 in your bus accounts then that is the amount that will
    be shown as bus expenses, it doesnt matter where its paid from.
    You enter only the amount that is the bus expense in the bus accounts & you
    pay by cash, usually
    The total utility bill is paid from your pers account.
    If however you do not have a seperate bus checking account, but use your
    personal account, create a virtual bank account & use this.
    Pers expenditure should not be included in bus account, other than cash
    drawings

    "ExtraCubicle" <> wrote in message
    news:...
    >I don't understand how to divide a bill from personal and business. I
    >operate
    > a business from my home so I split my utility bills, for example, between
    > personal and business expenses. When I enter in a new bill, I can split it
    > there and I use an expense (utility) account on one line, and then on the
    > next line I use Owner's Draw to show the portion that I pay for
    > personally.
    > But when I go to Pay Bill's, all I can do is select one financial account
    > and
    > check the total amount of the bill. Do I need to set up a fake bank
    > account
    > that represents what I pay for personally? Even if I do how do I pay for
    > one
    > bill with two financial accounts?
     
    DL, May 14, 2008
    #2
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  3. ExtraCubicle

    Macy Guest

    Extra, When you recorded the personal portion of the bill as draw, you
    have recorded that you personally have taken that amount of money out
    of the business. The money hasn't actually come out yet so paying 100%
    out of your business checking account completes your draw.
    Macy

    On Tue, 13 May 2008 12:58:01 -0700, ExtraCubicle
    <> wrote:

    >I don't understand how to divide a bill from personal and business. I operate
    >a business from my home so I split my utility bills, for example, between
    >personal and business expenses. When I enter in a new bill, I can split it
    >there and I use an expense (utility) account on one line, and then on the
    >next line I use Owner's Draw to show the portion that I pay for personally.
    >But when I go to Pay Bill's, all I can do is select one financial account and
    >check the total amount of the bill. Do I need to set up a fake bank account
    >that represents what I pay for personally? Even if I do how do I pay for one
    >bill with two financial accounts?
     
    Macy, May 14, 2008
    #3
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