I run a website that sells mostly through paypal. I'm trying to figure out which category to put my paypal fees, website host and monthly software fees in.
I'm using QB Self employed and the category list is small and not very specific.
Any advice would be useful.
Thanks
Thank you for posting here in the Community, @G Easton. Let me share some insight about categorizing website fees in QuickBooks Self-Employed (QBSE).
There are many expense categories in QuickBooks Self-Employed. These categories match with specific lines on your Schedule C. You can manually record the PayPal fees in QuickBooks. Here's how:
For your reference, please visit this article: Manually add transactions in QuickBooks Self-Employed.
Also, to better understand Schedule C's different categories and rules in QuickBooks Self-Employed.:
In addition, running reports in QuickBooks can help you stay on top of your transactions and gain insights into various aspects of your business. By customizing these reports, you can ensure that you obtain the specific data you need. For a detailed guide on customizing reports in QuickBooks Online, I recommend checking out this article: Customise Reports In QuickBooks Online.
I'm always available to assist you with any other concerns regarding categorizing your transactions in QuickBooks. Have a great day!
Thanks for the info.
I don't seem to have processing fees as a category in QB self employed though
You're welcome, @G Easton. Thanks for the prompt reply.
I see that having a processing fee as a category is useful on your end. Let me direct you to the best possible.
I recommend contacting your accountant about this. Your accountant can help you place processing fees into the correct category or what transaction you should use for it.
Moreover, to categorise transfers in and out of your bank and credit card accounts, you can read this article: Categorise money transfers in QuickBooks Self-Employed.
If you have more QBSE-related queries, don't hesitate to return here. I'll be willing to lend a hand. Take care always.
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