New Feature: Automatic Transaction Splitting With Smart Split

AUTOMATIC TRANSACTION SPLITTING WITH SMART SPLIT

Anyone who has spent hours going through invoices line by line to separate out certain expenditures knows that time can quickly add up. It’s especially annoying if you’re doing the same split each time. Well, now you can enjoy automatic transaction splitting with our new feature Smart Split.

Splitting the workload

As your client’s invoices or receipts come in, certain expenditures require the total value to be split across two or more tax, description or nominal codes. Reviewing each of these items line-by-line is repetitive and takes time.

What’s more, these splits are often the same each time. Regular supplier orders or monthly bills that always come with the same amounts are ideal candidates for our newest time-saving feature.

You can set a split using a fixed amount line item or a percentage split, or you can use both. For example, a fixed amount line item is great for splitting out a flat shipping cost from the total value. Percentage splits, on the other hand, are perfect for splitting the costs across two tax codes.

You can then set the required splits as a supplier rule to be applied to all subsequent invoices submitted from that supplier. All that’s left to do is review any expenses that are an exception to the supplier rule.

Smart Split - The Difference

When using Smart Split, all those invoices submitted by your client with identical supplier rules can be published straight to your cloud accounting software.

By automating this process, you can spend less time reviewing the numbers and more time helping your client understand them. Find out more about how to use Smart Split in our help centre or you can get in touch with your account manager.