Hello again nicki-bannerman,
It's awesome that you're taking advantage of the QuickBooks Community to get guidance with recording your transactions in QuickBooks Self-Employed. I know I responded to you yesterday regarding editing invoices through the Invoice tab, and it's great that you're exploring other ways you can enter transactions into QuickBooks Self-Employed as well. I can go over the options with you.
Apart from the Invoices tab, there's also the Transactions tab, which is primarily used to connect to your bank account to automatically bring in transactions from your bank to categorize in QuickBooks as business income or expenses. You can consider this option if you'd like, or if you've been tracking your invoices in a CSV file, you can use the Import option to bring in those transactions, which you can then categorize. Here are articles about each of those options.
Give those a read to decide which works best for you. If you have more questions about them, don't hesitate to reply to this thread and ask. I'm happy to go over these features with you so you can continue to simplify your bookkeeping.
Have a great day!
Sorry, but that is not what I am asking for. Basically what I want to know is if there is a simple/easy "import button" to take the information from my invoices tab (receipts paid) and put it down in my transactions tab as income. Currently I only have expenses from receipts that I have email forwarded to QuickBooks. I do not want to account my bank account under any circumstances. I want all such information to remain outside of this program as I am generally leery of entering any banking information online (no offence). I do not use a Microsoft Excel program to track my invoices - I have only been using this program under the invoices tab. I think I can make up transactions for each receipt paid - correct? - but that is time consuming, and so I am asking if there is a way to input or import information stored on one tab to another tab. I would also like to do this with mileage so that it shows this as an expense.
Thanks for clarifying what you're looking for, Nicki. I'd be happy to explain how the Invoices and Transactions features in QuickBooks Self-Employed work together to build your books.
When you record invoices and mark them as paid in the Invoices tab, there's no need to move them to the Transactions tab to categorize them as income. The program is designed to recognize that what you're entering in the Invoices section is income to your business, so it's already calculating as that for you! This means fewer steps you have to take to work with your books.
The Transactions tab, as I mentioned, is primarily for the bank feed connection, but I can appreciate if you don't want to sync that up. You can also manually record transactions in that area and mark them as business income, but you don't need to do that when you've already entered those transactions as invoices through the Invoice tab. If you enter the amounts in both areas, you'll be doubling the figures in your books.
You can verify your income and expenses using the Profit and Loss report in the Reports section, which shows you get a sense of your money earned versus your money spent for a given year, month, or other period. Just click the This tax year button (that's the default) on the report to choose a different time frame.
Try that out and let me know if you have more questions about it. I'll still be here to help you out!
I think based on your advice that the Invoices tab has a problem. Currently I have several invoices created (some paid and some unpaid) but I can't see anywhere in my profile that it is counted as income. On my Home tab I see several boxes. One is called "Profit and Loss" and shows two bars underneath it. The expenses show $1689 and income as $0. Another box is called "Expenses" and has bars to show how they break up the types of expenses for $1690. There is another box called "Invoices" with a circle graph - inside the graph it shows $462/8 invoices paid - outside the circle it reads $680/11 invoices. Another box shows "Mileage" with bars for the months and how many kilometres used and says $0 deduction. I tried clicking on the Reports tab and then the link for "Profits and Loss" but that also reads $0 income. I am not sure if this is the information you need to solve the problem, but it has me confused!
I appreciate the descriptions of what you're seeing when you're reviewing the information on QuickBooks Sefl-Employed's Home page and in reports. QuickBooks Self-Employed is a cash-based accounting software, meaning that it only shows you money received and spent in your reports rather than pending invoices. That being said, since you do have paid invoices, you should be seeing those figures in your reports.
The first step I recommend to troubleshoot is to clear your browser's cache. This ensures that QuickBooks Self-Employed isn't bogged down by temporary Internet files and other Internet data that can impact the cloud. This article is tagged for QuickBooks Online, but since it's the browser steps we're looking for here with clearing the cache, you can use it as well: Clear cache and cookies to fix issues
The next thing I suggest is checking the time frames on the reports and on the tiles on the Home page. You can change the date range to make sure that you're including the data you're looking for. As I mentioned in my previous response, on the report, it's a matter of clicking the This tax year button to do so. For the tiles on the Home page, there are downward-facing arrows that you can click to change the date range for the tile.
If after all that you're still not seeing the income calculated, please get in touch with the QuickBooks Self-Employed team outside of the QuickBooks Community. This will give you the opportunity to work one-on-one with a member of our support team who has tools to work through this with you. Here's how to reach out.
I hope you have a great weekend!