Home > Reports > Compliance > California > Form 460 > Form 460 > Nested Splits (Splits That Have Splits)
A nested split is a split of a split. In general, ISP does not recommend data entry that creates nested splits. If unsupported, nested splits can cause calculation discrepancies on compliance reports, among other known as well as unforeseen system issues.
ISP supports the reporting of transactions featuring nested splits on California Secretary
of State disclosure forms.
of State disclosure forms.
Here is the correct data entry in order to employ nested splits on CA compliance reports:
- Create an expense and specify a split
- Navigate to the individual or organization record for the entity attributed on the split
- Click on the line item for the split to edit the split details
- Add a split of that.
ISP’s algorithm will appropriately allocate funds to the associated entities. For example:
Chase Card Services: expense of $5000
Split on Chase transaction: Bob’s Print House expense of $4000
Split on Bob’s Print House split expense: US Postal Service expense of $3000.
This data entry would appear on CA Form 460 Schedule G represented by the following entries:
Agent: Chase Card Services
Payee: Bob’s Print House
Amount Paid: $1,000
Agent: Bob’s Print House
Payee: US Postal Service
Amount Paid: $3,000
