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Lorraine 2
Level 1

Being employed and self employed how do I show this in quick books

I am employed by a company where I get paid a wage and pay Tax on it.  I am also self employed and invoices customers how do I show these within quickbooks self employed online

3 REPLIES 3
emmam6
Moderator

Being employed and self employed how do I show this in quick books

Hello Lorraine2, In the tax profile (click on the cog in the top right of QuickBooks Self Employed and then on tax profile) go to the section that says personal allowance amount. If your PAYE will be more than 12570 change the figure in there to zero. If it is less adjust the allowance amount to the allowance you would have left. QuickBooks Self Employed will then calculate income tax based on that and the details in your tax summary report at year end (April 24). Any questions let us know.

Lorraine 2
Level 1

Being employed and self employed how do I show this in quick books

Hi Thank you for the information but I am not sure what you mean by the amount.  I do different hours each week and therefore will not know how much I will earn over the 12500

so I will be invoicing my customer for approx £4000 per year will then have a few expenses this I am ok with as I do the invoicing through quick book and log my expenses trough quick book

I also work for company where I get paid per hour for the number of hours work (the hours work will very). SoI have had my first pay slip got £134 gross and £107 net as the tax was taken off at 20% 

I will also be getting an occupation pension of about £1060 per month think I can put this through quick books as business income and therefore it will be recorded

So any help on how I record these would be much appreciated

Ashleigh1
QuickBooks Team

Being employed and self employed how do I show this in quick books

Hello Lorraine 2, so you could estimate over the tax year the amount and reduce the personal allowance amount left by that. You can always change the figure later in the year and whatever the tax allowance is for the year you are entering details for. In regards to your own income you cannot add that as income to the self-employed business- as far as we are aware so you may wish to consult with and accountant or hmrc about recording it in the transaction section. 

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