Shared Expenses between two companies
Andrew_BIT
Member Posts: 3
I have two companies in Waves that share a common office space. I have repair bill that I want to split between the two companies. Company A paid the entire bill (i.e $100) , Company B transferred their share ($50) to Company A. Everything is good with Company B but I am having trouble figuring out how I should balance Company A.
i.e. Company A has the following:
- Expense Transaction ($100) Repair (with Receipt)
- Bank Transaction ($100) (from when Company A paid the repairman)
- Income from Company B ($50).
What is the correct way to show the income transaction from Company B is for half the expense transaction?
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Comments
Hey @Andrew_BIT !
Based on the workflow you mentioned, it sounds like it was recorded correctly. However, if you are looking to record the partial bill payment in Company B's Wave profile, it might be worth reaching out to a professional CPA to see if there is a more accurate way to record this.