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Level 1

Invoices in correct tax year

I use qb self employed and new tax year has begun, yet with some customers I invoice weekly, invoices as of today 7th April, link to the previous tax year not the new one, so I show as no income for new tax year.  Not see any options to amend, reaching out for help please, have I made an error?  Thanks all in advance, first time for everything 


Invoices in correct tax year

Hello, userlh_gardenservice.


I'll take this opportunity to help you ensure your income is properly recorded for the new tax year. 


The invoices in Self-Employed are for recording purposes only. They won't affect your taxes or income reporting. 


I take it that you've already recorded the payments for those invoices in the previous tax year, which is why there is income from the prior year. 


In this case, you'll want to do the same by creating the invoice payments in the Transactions page. 


Simply go to the Transactions page, then click on Add transaction. Enter the Date of the payment, add a description, and the amount. 


Make sure to click on Select a category, then select or search for Business income to categorise the payment. Hit Save to record the transaction. 




More details about adding transactions can be found here: Manually add transactions in QuickBooks Self-Employed.


Alternatively, you can connect your bank account in QuickBooks Self-Employed to download your invoice payments transactions.


Then, simply categorise them as income. This article will shed some light regarding the process: Connect bank and credit card accounts to QuickBooks Self-Employed.


We have an article for you that might come in handy if you're ready to tackle your self-assessment taxes: The QuickBooks Self Assessment for Income Tax checklist.


You're more than welcome to ask any other questions you might have regarding your transactions or taxes in the Self-Employed platform. I'm here to help out again. 

Level 3

Invoices in correct tax year



Did you find a solution for this?


I’m relatively new to QBSE in the UK and spotted this potential issue when I signed up at the start of the current tax year. Here’s how I’m going to handle it:


* When I send my invoices on 1 April next year, I’ll add them as manual transactions for that date, to include them on my list for the 2022/23 tax year.

* If they are paid before the end of the tax year then the payments will automatically appear on my list, so happy days, and I’ll just delete the manual transactions.

* If the payments don’t arrive until into the 2023/24 tax year, I’ll place a note on the manually added transactions to state the date they were actually paid.

* In that instance, when the transactions appear on the 2023/24 list, I’ll just set them to Excluded, with a note on there to state the date they were added to the 2022/23 list. I had the final couple of 2021/22 payments arrive in the 2022/23 tax year, so that’s how I handled those when I signed up in April.


Whether this is the best solution I don’t know, I’m sure there are flaws or issues that I haven’t considered, but this is the best approach I’ve managed to come up with so far. I’d be interested to hear any thoughts or if you’ve taken a different approach.


All the best.



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