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Best answer December 10, 2020
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I appreciate adding more information about your concern, Sam1994.
Based on the details provided, record the actual income through your Tax Profile in QBSE. This helps us in identifying your tax bracket. Then, input the payments on the Transactions page as income.
To add your full-time job transactions:
- Tap the Gear icon at the top to choose Tax Profile under Taxes.
- In the Tax settings window, go to the Tax Profile page section.
- From there, fill in the field boxes with the correct data.
- Hit Save to keep the changes.
If you would like us to go into more detail into each section on the tax profile page we can do that just reply below.
Here’s how to input your business entries.
- Go to the Transactions menu on the left panel and click the Add transaction button.
- This action will display lines where you can key in the transaction details.
- Make sure to type the appropriate data in the field boxes and choose Income.
- Press Save to keep the changes.
For your other concerns, the program helps in preparing the HMRC Self Assessment. It automatically calculates your income, minus expenses based on the information you’ve uploaded to QuickBooks. However, VAT isn’t automatically included so you’ll have to take account of that. Click here for detailed information and then go directly to the Frequently asked questions section.
Let me share the following articles for future references.
- Manually add transactions in QuickBooks Self-Employed
- Make Self Assessment easier
- How to Pay Self Assessment Tax
Don’t hesitate to post a comment below if you have any clarifications or additional questions. I’ll be right here to help and make sure you’re taken care of.
I appreciate adding more information about your concern, Sam1994.
Based on the details provided, record the actual income through your Tax Profile in QBSE. This helps us in identifying your tax bracket. Then, input the payments on the Transactions page as income.
To add your full-time job transactions:
- Tap the Gear icon at the top to choose Tax Profile under Taxes.
- In the Tax settings window, go to the Tax Profile page section.
- From there, fill in the field boxes with the correct data.
- Hit Save to keep the changes.
If you would like us to go into more detail into each section on the tax profile page we can do that just reply below.
Here’s how to input your business entries.
- Go to the Transactions menu on the left panel and click the Add transaction button.
- This action will display lines where you can key in the transaction details.
- Make sure to type the appropriate data in the field boxes and choose Income.
- Press Save to keep the changes.
For your other concerns, the program helps in preparing the HMRC Self Assessment. It automatically calculates your income, minus expenses based on the information you’ve uploaded to QuickBooks. However, VAT isn’t automatically included so you’ll have to take account of that. Click here for detailed information and then go directly to the Frequently asked questions section.
Let me share the following articles for future references.
- Manually add transactions in QuickBooks Self-Employed
- Make Self Assessment easier
- How to Pay Self Assessment Tax
Don’t hesitate to post a comment below if you have any clarifications or additional questions. I’ll be right here to help and make sure you’re taken care of.
