diff --git a/packages/desktop-client/e2e/rules.test.js b/packages/desktop-client/e2e/rules.test.js
index 71c16d0cde1..98aa77a0629 100644
--- a/packages/desktop-client/e2e/rules.test.js
+++ b/packages/desktop-client/e2e/rules.test.js
@@ -89,7 +89,7 @@ test.describe('Rules', () => {
         splitActions: [
           [
             {
-              field: 'a fixed percent',
+              field: 'a fixed percent of the remainder',
               value: '90',
             },
             {
diff --git a/packages/loot-core/src/shared/rules.ts b/packages/loot-core/src/shared/rules.ts
index a2c53e8a4b2..bf673ed73b7 100644
--- a/packages/loot-core/src/shared/rules.ts
+++ b/packages/loot-core/src/shared/rules.ts
@@ -65,7 +65,7 @@ export const FIELD_TYPES = new Map(
 
 export const ALLOCATION_METHODS = {
   'fixed-amount': 'a fixed amount',
-  'fixed-percent': 'a fixed percent',
+  'fixed-percent': 'a fixed percent of the remainder',
   remainder: 'an equal portion of the remainder',
 };
 
diff --git a/upcoming-release-notes/2927.md b/upcoming-release-notes/2927.md
new file mode 100644
index 00000000000..7eecbfd72e6
--- /dev/null
+++ b/upcoming-release-notes/2927.md
@@ -0,0 +1,6 @@
+---
+category: Bugfix
+authors: [psybers]
+---
+
+Fix wording of split rule.
\ No newline at end of file