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Callum
Callum
August 3, 2018
Solved

Second Income

  • August 3, 2018
  • 1 reply
  • 0 views

Hi,

 

So i have a question... I use Quickbooks to keep in check with my self emplyment income but i do have a second income working for a company who sort out my tax etc for me. Am i able to input that somewhere into quickbooks so it would calculate my tax due (for my self employment) more accurately?

 

Thanks in advance.

    Best answer by

    Hi Callum,

     

    Welcome to Community.

     

    You can certainly enter your income from your employment into your Tax Profile section, however this will not pull to the Self Assessment within the reports section.

     

    You would still need to complete some manual calculation when entering the information on HMRC Self Assessment to include this figure.

     

    Let me know if you have any other queries.

     

     

     

    1 reply

    A
    Anonymous
    Answer
    August 6, 2018

    Hi Callum,

     

    Welcome to Community.

     

    You can certainly enter your income from your employment into your Tax Profile section, however this will not pull to the Self Assessment within the reports section.

     

    You would still need to complete some manual calculation when entering the information on HMRC Self Assessment to include this figure.

     

    Let me know if you have any other queries.

     

     

     

    S
    SWED
    April 25, 2019

    Can you add this functionality as there are hundreds of thousands of people working in this way?

     

    there must be a work around to calculate estimated tax for people who are employed (employer paying tax and NI etc), but run self employed businesses in spare time?  I bought my subscription on the basis the app would help me in lots of respects but also in this specific way. 

     

    if I have to do these things manually, then I don’t need the app- I can just use excel.

      R
      RaymondJayOQuickBooks Team
      QuickBooks Team
      April 25, 2019

      Hello there, @SWED, 

       

      The program supports self-employed individuals in tracking your business-related transactions. Since you have a second income from another employer, you can perform the steps provided by my peer, @196466, above as a workaround. 

       

      I'll take note of your feature request so I can pass this along here on my end. Please know that we are listening to your suggestion about tracking your second income in the program.

       

      For more useful topics about the system, you can browse them through this link: QuickBooks Self-Employed. 

       

      You can count me in if there's anything else you need, @SWED. 

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