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How to Split A Transaction Into Different Expense Categories

  • Updated

You can now split Float transactions into multiple line items in order to properly allocate them to different expense categories! ✂️

 

When would you use Float’s transaction split feature?

Sometimes accountants may have multiple fees in one expense on Float that should belong to different expense categories (GL codes). This feature can be used for situations such as…

  • subscription fee vs licensing fee
  • splitting out alcohol vs client gifts from an LCBO receipt

How to split a transaction

  1. Choose a transaction: On the accounting page, choose a transaction to split and click "+ Add Split” in the transaction summary.
    Screenshot
  2. Add Splits: In the Split Transaction modal, add as many line items as you need. You can provide the correct accounting information for each line item.
    Note: The amounts for all line items must sum to the SubTotal Amount. If this does not sum to the total amount, this will not properly split, and you will be prompted with a message to balance the total amount. 
    Screenshot
  3. Edit a Split Transaction: To edit a split transaction, select the transaction in the accounting page and change the values, add more splits or remove a split.

 

How do the transactions look once exported? 

Split Transactions in QBO

In the image below, we have split the Ramen and Egg into separate classes and they appear as 2 separate line items on the Float CAD account. 

SCR-20230217-kgp.png

Split Transactions in Xero

In the image below, we have split the Ramen and Egg into separate departments and they appear as 2 separate line items on the Float CAD account. 

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Split Transactions in Netsuite

In this example, instead of splitting GL codes, we decided to split different 'descriptions' per cookie order. These all have the same Account but different descriptions on Float, which translate into different 'memos' on Netsuite 

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Split Transactions for CSV Export

We recommend using a Custom CSV Template (instead of the Standard CSV) when using Split Transactions. When exporting a split transaction using a Custom CSV Template, you will see one row for each line item of the transaction in the CSV.

 

If you’re using our Standard CSV Export, you will see new columns appended to the end of your csv for each new line item.

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