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Manage suppliers and expenses

Manage suppliers and expenses

  • 259 Topics
  • 509 Replies
259 Topics
snowleopard25
asked in Manage suppliers and expenses
Working from home - how to record the % of taxable deductions in QB?

Hi, I'm self-employed, sole trader working from home (based in Australia) - I'm trying to calculate a rough estimate of my income tax I need to put aside from business earnings - so I can start making regular payments towards my income tax. I understand the basics of how much I can deduct for tax purposes (what I can claim etc) and know I need to go over these with a tax accountant near tax time etc. However, I'm confused about how to record these in Quickbooks in the meantime - as they are only partially allowed for tax deductions (a percentage) because I run a website e-commerce business so I work from my home (use the same computer etc. for business and private use). For example: Home Utilities - like electricity are used for both personal and business use. My question is:  When I go to transactions in banking and say make a payment to my electricity bill that was due e.g. $150 - only a portion of this amount is allowable tax deduction -

31
Zac Product Champion
snowleopard25
asked in Manage suppliers and expenses
wiggsama
asked in Manage suppliers and expenses
becsurian
asked in Manage suppliers and expenses
Capture and categorise date format

Hi, I've just started using the 'Capture and categorise expense receipts and bills' function.  I've noticed that when it converts the date from the receipt, its changing it to the American format, ie. mm/dd/yy instead of the Australian standard of dd/mm/yy (which is what is on the receipt).  For example, Quickbooks has picked up the date of 12/03/2020 for an expense which was actually an expense on 03/12/2020.  This results in a no match to the expense in banking. I then have to manually change the date to 03/12/2020. Is there a setting that can be changed so that when it scans in it uses the standard dd/mm/yy format?  Note that my preferences in main settings for Quickbooks is set for dd/mm/yy.  Its only in the capture + categorise expense function that it changes it. Thanks,Bec

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AlcaeusF
mackayhouse
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beal-stephen-gma
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rippabonzabeauty
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minka
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dean28
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neilgrunsell
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Andrew Wheeler
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craig52
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yongmichaelNew Member
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usertony.wood-collie
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gardeningwise
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bc1-red-gp
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Daleb02
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parksoldschoolho
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bc1-red-gp
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brett_lenertz-bi
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usererin
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wood-samuelt
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getwellwithgen
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steve-young10
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mogsta
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