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Splitting personal and business transactions

tim13
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Splitting personal and business transactions

My wife's car is split 66% private; 34% business related.  If I buy fuel for say $100, how do I properly allocate that bank transaction?

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Yanike_S
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MYOB Moderator
MYOB Moderator

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Re: Splitting personal and business transactions

Hi @tim13 

 

Thanks for your post.

 

Within MYOB Essentials you can create a rule to split based on a percentage. Under Banking >> Manage Rules you can create a rule for these types of transactions. Under the Allocate to section you have the option to Allocate By either percentage or dollar amounts.

 

When you split a transaction using a rule, you can nominate both different accounts and different tax codes for those transactions. If you were unsure as to which accounts or tax codes to use, I recommend speaking with your accountant.

 

See also this help article: Expenses for business and private use

 

Let me know if this solves it for you!

Kind regards,
Yanike

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tim13
Contributing User
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Re: Splitting personal and business transactions

Thanks, that is very helpful.  There will be a few more simple queries as I work into it.  Appreciate it.

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