I've recently gone self employed and am using QBSE. I was using Ltd company double entry book keeping before and I don't know if I'm just being overcomplicated.
I've generated an invoice and a customer has paid it by BACS.
For now, I've marked the invoice as paid, and I've marked the income as Business income.
Really I would like to "pay" the invoice with the money received - to tie them together, but I can't find a way to do that - I know it's not really necessary, but its just what im used to and I like things tidy.
Thanks for choosing QuickBooks Self-Employed to help with your business, Jojokayak.
Unlike the other versions of QuickBooks, QBSE is designed for a very specific purpose. It's designed for simple tracking of business income and expenses to help you calculate your estimated taxes. The program is also not designed for double entry book keeping.
For now, we're unable to march or attach the invoice to payment. QBSE will only count your business income and expenses to calculate your estimated taxes. Here are some of the things that you can do in the program:
Organise your business spending.
Maximise your business deductions.
Claim a mileage deduction by tracking the business miles you drive.
Help you figure out your business profit.
Calculate your estimated tax payments.
Put your expenses into the correct Schedule C categories.
Export your records to an easy-to-read Schedule C.
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