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Everything you need to know about banking in QuickBooks Online - Discover more
shauna-ryanrober
Level 1

I have full time employment that is separate from my sole trader business. Is there a way to add my income and tax to QuickBooks to check my tax for my business?

 
1 REPLY 1
RheaMaeH
QuickBooks Team

I have full time employment that is separate from my sole trader business. Is there a way to add my income and tax to QuickBooks to check my tax for my business?

It's nice to see you here in the Community, Shauna. Let me provide information regarding your employment income and sole trader business for your taxes in QuickBooks Online (QBO).

 

QBO is designed to handle one business entity at a time. Combining your full-time employment income with your sole trader business isn't recommended, as it can complicate your record-keeping.

 

If you work as a contractor or are self-employed while also being a business owner, it's suggested that you use different products to track your income tax. QBO is best suited for your sole trader business, while QuickBooks Self-Employed (QBSE) is for employment earnings.

 

In addition, if you want to add your employment income to QBO, I recommend consulting with an accountant. They can guide you to classify and organize these transactions to maintain accurate records.

 

Furthermore, you can visit this article to learn more about income tax: Understanding Income Tax | QuickBooks Online.

 

Don't hesitate to click the Reply button below if you have other concerns about managing your employment income and your sole trader business. I'm always here to help you. Have a good one.

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