I can provide insights about adding invoice transactions in the correct tax year, which you would like to include in the 2023-2024 tax year in QuickBooks Self Employed (QBSE), Donny.
To include the invoice transaction on the tax year 2023, let's enter the invoice payments in the Transactions tab and set the date to 2023. However, it's important to consult your accountant before taking these steps to ensure legal compliance with the IRS and to make decisions based on accurate financial information.
To begin the process of adding invoice payments, here's how:
- Sign in to your QBSE account.
- Go to the Transactions tab.
- Click on Add Transaction.
- Set the date to 2023 to ensure it will recorded in the 2023 Tax Summary.
- Enter your description for this transaction and the correct amount.
- Choose Business for the transaction Type, then select Income for the Category.
- Once done, click Save.
For more info about adding a transaction in QBSE, please refer to this article: Manually add transactions in QBSE.
To avoid any fines and penalties in the future, please check out the HMRC website for more info on paying your self-assessment tax bill and available payment options.
I'm always here to help with additional questions or concerns regarding including invoices in the previous tax year. Have a great day.
