Hiya. Couple of questions about logging transactions. Firstly what do I categorise payments to HMRC as and secondly how about business loan (bounce back) repayments ?

Hello, Yes I would also like to know how to account for a bounce back loan in Quickbooks SE please. Is it classed as business income? 

Categorizing the loan is my focus here, @MrsBudd.

I'll share a few details on how the loan is categorized into QuickBooks.

In QuickBooks Self-Employed, we usually categorize the loan as Business. Keep in mind that Bounce Back Loans are debt and not a grant.

But I'd still suggest contacting an accountant to know exactly what kind of categorization of your loan. If you don't have an accountant yet, I can help you find one. Just go to this link and filter all the fields needed to see an accountant who is nearby you: Find ProAdvisor in QuickBooks.

Further, check out these links for different types of categories and how the loan affects your tax filing: 

• Schedule C and expense categories in QuickBooks Self-Employed
• About SA103F Categories

Let me know if you have any other questions or concerns. I’m here to answer them for you. Have a great rest of the day, MrsBudd.