How to setup a rule to gross up sales income received into the bank & then split part of the deposit to a separate code for loan repayment at 24% of gross?

To help you set this up correctly, we need to clarify whether the deposits in your bank feed reflect the gross amount (before the 24% loan payment is deducted) or the net amount (after the deduction).

QuickBooks Online (QBO) bank rules can split a deposit into multiple categories by percentage, but they cannot dynamically calculate the gross amount from a net deposit. The rules can only divide the exact amount deposited into your bank account.

If the full gross amount appears in your bank account and the loan repayment occurs later (or you need to split the gross amount directly), you can set up a percentage-based rule:

1. Go to All apps > Accounting > Rules.
2. Click New rule in the top right corner.
3. Enter a name for the rule and set it to apply to Money in and your specific bank account.  
4. Set your conditions (e.g., Description contains [Bank Text]).
5. Under the Assign section, select Split at the bottom of the transaction details.  
6. Change the split type from Amount ($) to Percentage (%).
7. Line 1: Enter 76% and select your Sales Income category.
8. Line 2: Enter 24% and select your Loan Repayment liability category.
9. Click Save.  

If the 24% has already been deducted by the time the money reaches your bank account, a bank rule will not work. QBO rules cannot reverse-calculate the gross amount from a net deposit.

In this case, you will need to manually track these transactions using a Bank Deposit or a Journal Entry to accurately record the gross income, the 24% loan deduction, and the net cash received. We highly recommend consulting your accountant to establish the smoothest workflow for recording these manual entries.

Please let us know if you have further questions. We're here to help you anytime.