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Level 1

quickbooks self employed

Where do i categorise tools i have purchased for my work?

Solved
Best answer August 29, 2020

Accepted Solutions
Moderator

quickbooks self employed

Good day, @duncanaj,

 

For purchases of tools or asset equipments, you could use Supplies (items you buy and sell) or Other tools and equipment category (tangible items) when adding them in QuickBooks Self-Employed. However, I would refer you to confirm this with an accountant. They have more knowledge about Self-Employment accounting and help you which category to use.

 

While our Self Employed program has no Chart of Accounts, adding other categories or setting up assets is currently unavailable. If you need to categorize these purchases as business assets, get help with a tax advisor or upgrade your service to our small business packages here.

 

Here are some links to help you further with this:

 

Let me know if you have any questions or clarifications about this. I'll be more than happy to help you anytime. Have a nice day!

View solution in original post

1 REPLY 1
Moderator

quickbooks self employed

Good day, @duncanaj,

 

For purchases of tools or asset equipments, you could use Supplies (items you buy and sell) or Other tools and equipment category (tangible items) when adding them in QuickBooks Self-Employed. However, I would refer you to confirm this with an accountant. They have more knowledge about Self-Employment accounting and help you which category to use.

 

While our Self Employed program has no Chart of Accounts, adding other categories or setting up assets is currently unavailable. If you need to categorize these purchases as business assets, get help with a tax advisor or upgrade your service to our small business packages here.

 

Here are some links to help you further with this:

 

Let me know if you have any questions or clarifications about this. I'll be more than happy to help you anytime. Have a nice day!

View solution in original post