If you incur an expense for both business and personal reasons, you can still claim the business portion as an allowable expense and reduce your overall tax bill. For example, if this is a phone bill or a subscription that is only used for business half the time, you can let the app know.
It’s very easy to do so: from your transactions tab in-app, tap on the relevant transaction. You’ll see the ‘Business’, ‘Personal’ and ‘Split’ options in the transaction information.
Head to the ‘Business amount’ box
Enter the monetary amount or percentage that is business use.
Tap ‘Save’ in the top right corner when you’re happy with what you have entered here.
If you’d like to find out more about transactions, here our most popular articles: