Question

Schedule C Accounts & Categories - Switched from QuickBooks Self Employed to QuickBook Online

Forum|Forum|5 years ago
March 16, 2021
7 replies
92 views

Hello,

I just recently switched from QuickBooks Self Employed to QuickBooks Online. However, there are a lot of Categories that I can't seem to figure out compared to what I was using in QBSE.

For Example - QBSE had:

Other Business Expenses:

-Other Tools and Equipment - Power Tools less than $200

-Transaction / Processing Fees –

-Apps / Software / Web Service (Adobe & QuickBooks Subscriptions)

-Uniforms

Office Expenses:

-Shipping Fees

-Shipping Materials (Boxes, Bubble Wrap, Packing Tape)

QuickBooks Online

MarsStephanieL

Level 6

Hello there, @westandpinedesign.

Allow me to share some details about the difference between QuickBooks Self-Employed (QBSE) and QuickBooks Online (QBO).

The main difference between both programs is that QBSE is designed for Independent Contractors, while QBO is for Small to Large Businesses. The accounts you've mentioned above that are present in QBSE are used for specific tracking on your Schedule C and are not customizable. However, in QBO you can create and customize it.

In QuickBooks Online, you can simply use Bill, Invoice, Sales Receipt, Check, and not limited to Expenses transactions. These transactions will be automatically tracked and calculated for the business taxes. If you wish to use specific accounts for categorization, you can create one. Here's how to create an account in QBO:

Go to the Accounting select Chart of Accounts.
Click the New button.
Input the details you need and select Save and Close. This is how it looks like:

You can check out this reference page to know more about the process: Creating and Managing Accounts.

I've added these articles about the features offered by QuickBooks and how to manage it:

One of these articles contains tutorials to guide you on how to do your tasks in QuickBooks Online effectively.

Please don't hesitate to reply to this thread if you have other questions. I'd be happy to answer them. Enjoy the rest of your day!

W

westandpinedesignAuthor

Hello,

I understand where I can Change / Modify Account in the Chart of Accounts locations. However, I am trying to avoid creating Accounts that already exist.

For example: Quick Books Self Employed had:

Other Business Expenses:

Uniforms

Transaction/processing fees

Other tools and equipment

Memberships/subscriptions

Apps/software/web services

These are not available Detail Types under "Expenses" or "Other Expenses". So, Where would these fall under QuickBooks Online?

Is there a Detailed List of the Accounts / Detail Types for QuickBooks Online, like the one provided for QB SE here?

https://quickbooks.intuit.com/learn-support/en-us/business-assets/quickbooks-self-employed-schedule-c-categories-breakdown/00/369505

R

Rea_M

Level 10

Thanks for getting back to us, @westandpinedesign. Let me share further details about managing accounts in your Chart of Accounts in QuickBooks Online (QBO).

The QBO system has its default accounts. They are automatically created based on your company setup. Then, you may add an account under Expenses or Other Expense types when necessary. Just make sure to select the appropriate one or the nearest detail type that describes the account. I'd recommend checking out this article to learn more about this: Manage default and special accounts in your chart of accounts.

Then, I'd recommend pulling up the Account List report. This is to know the complete list of accounts in your chart of accounts and avoid creating duplicate ones in QBO. After that, you can refer to this article whenever you're ready to add an account: Create an account to your chart of accounts in QuickBooks Online.

Also, you're able to organize your Chart of Accounts by creating subaccounts. This way, you can break down your expenses and income into greater detail. To know more about this, you can refer to this article: Create subaccounts in your chart of accounts in QuickBooks Online.

Let me know in the comments below if you have other concerns about managing accounts in QBO or inquiries about monitoring your business expenses. I'm just around to help. Take care always.

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