Can I split a payment to a credit card to track several expense categories for tax purposes?
I am considering Numbers vs. iBank vs. Money for check book and tax purposes. Would prefer to have ability to split a single credit card payment into several categories and have the ability to download end of year directly to TurboTax
- Asked by Carol S from Jordan
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2 Answers from the Community
iBank 4 may be the answer you are looking for. Individual transactions made up of multiple categories (such as your credit card bill, or personal and business expenses on one receipt, or even a paycheck containing income and deductions) can be split into as many categories or sub-categories as you need in iBank. The developer's website has a quick tutorial showing how to easy it is to do this.
And yes - iBank 4 also has the ability to export your data to TurboTax at year-end.
- Answered by Scott B from Putney
iBank 4 can not do splits (split payments between expense accounts). This information was not available until the package was opened. In my view that makes iBank 4 no better than a spreadsheet with a check printer. It is useless to anyone tracking expenses.
- Answered by Jym R from Wenatchee