I have a home office where 100% of my income is earned in this home office. I’ve been splitting utilities such as the electric, gas, phone, ISP, and ADT Alarm by a percentage. The percentage I count toward my home office is the square footage of my home office divided by the square footage of my home (times 100).
I don’t believe there’s an automatic way to do this in QuickBooks Online - but it doesn’t hurt to ask.
At the moment I’m manually splitting every instance of all shared utilities associated with my home office. I use an Excel spreadsheet to calculate the dollar amount.
As an example of how I’m splitting the cost of utilities goes like this:
- In bank transactions I select “Pending”
- I click on a given payment sent to a given utility
- I click “split”
- Using the drop down I enter the categories (two categories)
- Using an Excel spreadsheet I enter the dollar amount. I programed an Excel to split the payments by percentage.
- I enter in each amount that Excel calculated for my home office and personal home
- then I click post
If I have 5 utilities then I’d need to repeat the above 12 x 5 = 60
This is cumbersome.
There’s got to be a better way. (or so I hope)
Any thoughts and/or ideas?
