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Everything you need to know about banking in QuickBooks Online - Discover more
r-s-building
Level 1

Should I input all of my incoming payments as business income

 
1 REPLY 1
ReyJohn_D
Moderator

Should I input all of my incoming payments as business income

You've come to the right place, @r-s-building.

 

Yes, you can record the incoming payments as part of your business income in QuickBooks Self-Employed (QBSE). 

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For more details, please see this article: Categories to use in QBSE.

 

Before doing so, I recommend consulting your accountant for further guidance on what categories are best to use, etc. This way, you can ensure your records are correct.

 

You can invite your accountant to your company in just a few clicks. Let me guide you how:

 

  1. Click the Gear icon, and then choose Accountant.
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  2. Input the accountant's email, and then click Send invitation when you're ready.
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After your accountant accepts it, they can help you manage your records or entries.

 

If you don't have one, you can use our Find an Accountant tool to look for a ProAdvisor. They're independent QuickBooks-certified accounting professionals who can provide insights about your business.

 

To do that:

 

  1. Go to this link: https://quickbooks.intuit.com/uk/find-an-accountant/.
  2. Enter your postcode or town, and then click Find an accountant.
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  3. Filter your search as needed, and then browse through the results.
  4. You can click on each ProAdvisor's profile to learn more about them.
  5. Once you've found one, you can fill out the Send a message form to contact them.

Also, you can create rules in QBSE to quickly categorise your entries. This helps make your task easy and more efficient.

When it's tax time, you can use Self-Assessment Tax Calculator to get a glimpse of how much you'll need pay for a certain year.

 

I've got your back if you have more questions about managing your transactions. I'll be here to answer them for you.

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