RideShare Income

BluJ

How do I record business income without going through a whole invoice process? I get paid from Uber and Lyft once a week and sometimes more often than that and each time the amount is different so I would have to do pricing from scratch every single time. I am paid directly into my bank account. Any thoughts and ideas?

Thanks
BluJ

BluJ

For now, barring other's input, I created two new income categories and using them to record the income.

Mikeg

@BluJ,
You can just connect your bank account and have the transactions imported. So any deposits would be sales and you would categorize any expenses that are paid through the same account.

BluJ

I see. It would make sense, but most of my expenses are combined for Uber and Lyft (same gas fill up for both apps running) so splitting expenses to different customers would not work out. Oh well. I guess I will stick to my original solution.

Thanks for your input,
BluJ

AmandaK

@BluJ You can actually split your transactions in Wave, so if you connect your bank to your Wave account like Mike suggested, you could click on each expense and split them into two categories or customers.

Take a look at this article to see how to do this: https://support.waveapps.com/hc/en-us/articles/208621536-How-to-split-a-transaction.

RyanZenLama

@BluJ said:
I see. It would make sense, but most of my expenses are combined for Uber and Lyft (same gas fill up for both apps running) so splitting expenses to different customers would not work out. Oh well. I guess I will stick to my original solution.

Thanks for your input,
BluJ

Why not put them both under Single RideShare Business Expense for tax purpose?