What is the best way to track Business Income and have it show up as Personal Income?

Lauren_Marie

I've noticed when I have Business Income, it doesn't show up as Personal Income. Is there a way to fix this? I was told when chatting with a Coach that I can record it as Personal instead of Business, but I want to be able to connect it to Invoices. Is there a workaround for this? I want it to show up as part of my income for my monthly Spending Plan but can't figure out a way to make this work. The coach also recommended I separate Business and Personal in different Spaces, but I just can't wrap my mind around how this could work.

Thank you!

Coach Natalie

@Lauren_Marie, thanks for posting your inquiry to the Community!

Other users may come along with some suggestions for you; however, it does appear that a transaction set to "personal usage" is unable to be linked to an Invoice in QBP. I'm not personally sure what to suggest as a workaround.

I would recommend creating an Idea post, though, requesting the ability to assign personal transactions as invoice payments so other users can vote on it and our product team can review it.

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

I hope this helps!

DryHeat

I don't know a way to accomplish exactly what you want.

My daughter handles this for her small business by having a separate business checking account. The income coming into that account is marked as business income. Then she transfers money to her personal account as an owner distribution.

It seems cumbersome, but it allows her to keep better track of business income and expenses that way.