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How to calculate expense by percentage use?

ThucThuc Member Posts: 6
Hello Everyone!

How can I calculate a total expense by business percentage use?

Thanks,
Thuc
in Accounting Technical Support

Comments

  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    Hey @Thuc! Thanks for reaching out here! I'm not entirely sure what you're asking here - could you please provide a little more context around this inquiry? I'd love to try to help as best as I can.

  • ThucThuc Member Posts: 6

    Hello Connor!

    For instance, if I use my personal car 70% of the time for business and the cost of my auto insurance $100/month, how would I set it up so that 70% of the use(expense) is for business and the other 30% is for personal use and have it reflected on profit/loss statement.

    Thanks for your help!

    Thuc

  • ConnorMConnorM Member Posts: 1,229 ✭✭✭

    @Thuc Thanks for that clarification! Great question. Unfortunately, percentage-based expense distributions are not something that currently exist within Wave. You'd need to do these calculations on your own, and then have these figures reflect appropriately within Wave. To keep things tidy, though, you could have the full expense listed as one transaction, and then simply split the transaction out to the appropriate accounts.

  • jessicacsrjessicacsr Member Posts: 1

    @ConnorM, since this post is over a year old, I'm just wondering if there is a way to do this yet and take a transaction and only use 10 percent of it toward business expenses? (For example, when I need to put 10 percent of my rent payment towards business expenses because I am self employed and have a home office.) Thank you in advance

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