I have recently had to switch (reluctantly!) to QBO Self Employed after catastrophic failure of QB (2013) Desktop. For years I have been able to bookkeep my own and other family members self employment (they are all actors!) but, if I am right, QBO SE can deal with one account.
Can anyone advise me which version of QBO is most appropriate (and cheapest!) for my situation. Many thanks in anticipation!
You have to open 5 separate QBSE accounts with 5 different emails to manage. I would recommend to open one single QBO Plus and utilize the Class feature instead to manage those 5 actors separately.
Hi NickC6953, thanks for your post - if you're looking to submit a standard Self-Assessment using HMRC's SA103F form for each member then QB Self-Employed would be best suited to you, however, you'd need to open a separate QBSE account using a different email for each. If you would prefer to have the accounts linked to one email, you can use QB Simple Start to calculate Income Tax, though this is best suited to sole traders who don't have allowable expenses.
Thank you for taking the time to reply to my question. I'll have to think about which course of action is best.
While I've got you! I am being confounded by QBO and its total obsession with VAT and its refusal to accept my settings that there is no VAT on anything I do! I am, very simply, a retired old man who tries his best to help his offspring, none of whom are registered VAT, with their accounts and tax returns. QB Desktop was ideal for me (and them) and I was extremely reluctant to move away from it but forced to do so through QB's withdrawal of support.
Whilst most entries downloaded from the bank accounts seem to be applied correctly (although account allocation can be completely random - another reason that I cannot get on with QBO), there are a few which are rejected due to "Account assigned to this transaction has been deleted. Before you can modify this transaction, you must restore VAT Liability (deleted)." Seea ttached
Are you able to explain, in words of one syllable, exactly what this means and how I can resolve it once and for all?
Sorry for long message and I hope you will be able to help. Thank you.
QB Desktop was ideal for me (and them) and I was extremely reluctant to move away from it but forced to do so through QB's withdrawal of support.
If you don't need to comply with MTD regulations or need any online services (e.g. payroll, bank feed, third party apps), consider purchasing QBD Pro/Premier 2019 or 2020 on a one-time license.
Hello NickC6953, thanks for the screenshot of the error your getting so in order to stop you getting this you will need to go to the chart of accounts> click the little cog wheel next to the printer icon and click include inactive> scroll down and look for that one and make it active again by click on make active this will then stop you getting that red error box showing up on the banking screen.
When you select the NO VAT code what exactly happens do you get an error or anything so up that is stopping you?
Thank you for the suggestion, which I have already looked into in some depth. The conclusion I have come to is that the cost for a GBP version of any recent QB Desktop is just too prohibitive...unless you know better!
Thank you for your reply.
Your suggestion does not make sense as the entry I am trying to reconcile relates to an account which is already active! Also, it is categorising to a completely random account for example "Preston Storage" to "Scarlett: Rent".
I am attaching a PDF document showing screenshots (from top to bottom):
- the correct Desktop entires
- the incorrect Online entries
- the response to my attempts at correcting the Online entries
What exactly am I doing wrong?
Thanks for replying with that screenshot NickC6953, so that we can investigate further, can we check if you migrated any data in the QBO account that you're using from Desktop to Online?
I'm not sure I fuly understand your question but I'm hoping the following may answer it:
I migrated data from a full backup of QB Desktop (2013) and all entries for that period migrated perfectly well with all payments allocated to the correct accounts. The same cannot be said about the daily downloads from my bank accounts all of which are now being rejected for the same reason: Account assigned to this transaction has been deleted. Before you can modify this transaction, you must restore VAT Liability (deleted).
As I have mentioned before, I am not VAT registered, I have no need to have anything to do with VAT but, try as I might, I cannot convince QBO, which seems to be obsessed with VAT despite all my settings to the contrary.
I sincerely hope that answers your question and you can give some clue as to what I am doing wrong. I am beginning to lose the will to live!
I look forward to hearing from you.
Hello NickC6953, thanks for coming back to us, So to stop this from happening all you need to do is make the account active so the red error box doesn't show up anymore for you even if you dont do vat. To make it active all you need to do is go to accounting tab on the left hand side> select the chart of accounts> click the little cog wheel> tick include inactive> scroll down find the account and click make active. Once this is done it will then stop the red error box appearing for you.
In reply to your post of two weeks ago, my apologies in the long delay but I have been trying to resolve too many additional problems arising from the "solutions" provided by Intuit.
I would, ideally, like to be in a position to simply install QB Desktop rather than attempt to access back up files through a temporary trial version.
My budget is extremely limited (max £50 which is in line with the prices I have seen online for US versions of QB) but I fear that is well below anything you may be able to offer.
Hi NickC6953, we no longer sell Desktop products in the UK, will you be looking to proceed with either QB Self-Employed or QB Online? Can we check any additional issues that you're continuing to experience?