Paying other soletraders - Quick books online

themoog · ‎March 13, 2023

I have a very simple side hustle where we provide video production services.

Dont want the overhead of being a ltd.

Sometimes I need to get people in to assist with various duties, director, additional camera personel. They all operate as soletrader freelancers.

Suppose I get paid £1000 and pay a director and camera man £300 each. How do I expense this? I tried using services in quickbooks, but doesn't seem to deduct the costs as I would expect in the taxes section?

Thanks in advance

SME Bookkeeper · ‎March 13, 2023

Hi @themoog,

Thank you for writing here.

If you hire freelance directors, Cameraman etc. then it will be considered as "Expense > Other Miscellaneous Service Cost"

Record 1000 as your income
Create an expense form (+) New

For bookkeeping assistance, check my bio.

All the best

@SME Bookkeeper

themoog · ‎March 16, 2023

Thanks for replying, I don't seem to have the option of Other Miscellaneous Service Cost ?

Thanks in advance

SME Bookkeeper · ‎March 16, 2023

Hi @themoog

You have to create the chart of Accounts first. Then you will find it in category.

For bookkeeping assistance, check my bio.

All the best

@SME Bookkeeper

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Paying other soletraders - Quick books online