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Experienced Member

Employed and Self Employed or Second Job?

Hello all.

 

So I have two ‘jobs’. I’m employed as a technician by a school which pays me a monthly PAYEE / annual salary...etc and I also work self employed as a freelancer.

 

I have quickbooks self employed but how do I work with this... Quickbooks sees my pay from my employed job (which is already taxed automatically) and it sees any self employed income (I’ve not gotten around to setting up invoicing from QB). But all in all, at the moment, this is all just ‘income’? I don’t have a option to select my employed job salary as PAYEE...etc

 

My my main problem I can see, is at the end of the year, the numbers are going to be messed up and the tax return will be even more hassle using QB? 

1 REPLY 1
QuickBooks Team

Re: Employed and Self Employed or Second Job?

Let's make sure that your income is reported correctly, xcsorg,

 

If you've connected your bank to your Self-Employed account, then you can assign the transactions as personal income. 

 

Then, record the actual income in the Tax Profile section. This helps identify your tax bracket and will show up under the W-2 Annual Income box.

 

Here are the steps:

  1. Click the Gear icon located in the upper right corner.
  2. Under Taxes, choose Tax Profile.
  3. On the Tax Profile page, enter the net pay in the Your annual W2 Income box.
  4. Click Save.

If you have any additional questions about QuickBooks Self-Employed, please let us know. Thanks.