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Recording A percentage of A Household Bill

Tom_HowellTom_Howell Member Posts: 1

I am a freelance music educator who works from home 2 days a week. I pay for my mortgage, bills, utilities, phone & internet through my personal bank account but I want to apportion a percentage to the business. e.g My total phone bill is £30 but I want to record £5 of it as business use.

Do I upload the PDF of the bill for £30, paid out of my personal account, and then use a journal transaction for the £5 that was business use?

Sorry, totally new to this and not an accountant!

Thanks

Tom

in Accounting Technical Support

Comments

  • ZoeCZoeC Member Posts: 388 admin

    Hey @Tom_Howell, thanks for reaching out! Great question! If you have created a bill for this in your Wave account and recorded a payment on it, you will need to go to Accounting > Transactions, select this transaction and split it. The split should look like £5 categorized to the expense account - Business phone bill and £25 categorized to Personal Expense/Withdrawal > Owner Investment/Drawing. If you have not created a bill for this you can simply go to Accounting > Transactions > Add expense and follow the same steps! I hope this helps :smile:

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