Recording business funding

I'm here to help you, Tint train. Let's go through the steps of recording your business funding in QuickBooks Self-Employed (QBSE).

While we can’t directly advise on which account to categorize your loan transactions into, I’m happy to provide you with the steps to record them. Here’s how:

1. Go to the Transactions menu.
2. Click the Add Transaction button.
3. Enter the Loan details.
4. Choose Personal in the Type column.
5. From the Category column, select Income.
6. Hit the Save button.

For an accurate categorization of your loan received and repayments, it’s best to consult your accountant on where to place them. They have the expertise to determine the appropriate accounts for your transactions.

For future reference and additional guidance about expenses, you can check out this helpful Community article: Allowable and Disallowable Expenses explained.

If you need more assistance recording your business funding, please don’t hesitate to reach out through this thread. The Community will respond promptly to assist you with any additional queries.

Hi Faith 

Thanks for your response. The issue I’m having is that when you click transaction on my account it only given you add income, add expense & snap receipt. None of the other options you had mentioned!! 

Thanks for coming back, Tint train.

We appreciate you for providing us with a screenshot to better isolate the issue. Since you access your QuickBooks Self-Employed (QBSE) account on a mobile app, we can go to the Transactions section. Then, you'll have the option to swipe left to categorise them as Business or right for Personal. You can check out this article for the steps and details: Categorise transactions in QuickBooks Self-Employed. Then, go to On an iPhone or iPad (iOS) or an Android phone or tablet section. 

On the other hand, the loan received will be tracked as Personal and isn’t part of the business income in QBSE. We can go to the Transactions page by accessing your account through the web and enter the amount. Here’s how:

1. Go to the Transactions menu to select the Add transaction button.
2. This displays field boxes where you can input the loan details.
3. From there, enter the correct date, transaction information, and the amount.
4. Under Type, choose Personal.
5. Press Save to keep the record.

By the time you pay the capital amount, it is tracked under Business Loans. While the interest is categorized under Business Interest (Schedule C). To track these entries, perform the same steps above and categorize them accordingly.

Moreover, you can check out this article to view the complete list of categories used to track entries: QuickBooks Self-Employed Schedule C Categories breakdown.

Drop a comment below if you need more help with recording loans or any QuickBooks-related concerns. We're always here to help you in any way we can. Take care always.

I’m really sorry but I have no idea what you are talking about. 

There iOS no swipe right or left option and no way of making it a business transaction or personal transaction!!!! I have never put a personal transaction into this!!! 
I have I use why it would be personal anyway ( If I could find it) as it’s was the card machine facility that provided the funding, not a personal Input!! 

Totally confused!!!  N

Thank you for specifying the device you are using, Tint train. I can provide clarification and route you to our representatives for further assistance.

Once there are entries in your Transactions menu, you can categorise them by swiping left (Business) or right (Personal). This functionality applies to iOS and Android. With this, I'd like to know if the funding from your card machine facility has synced. Since the screenshot you provided is blank, you'll want to verify it by logging in to your account via a web browser.

Additionally, the loan is classified as personal because it's not part of the business earnings. Therefore, it's not a personal or manual input, as this is how the system works.

Moreover, I recommend contacting our support team if the transactions appear on the web but not on the mobile app. They can help investigate and ensure you can track the entries. I'll show you how.

1. Tap the + button and select Ask QB Assistant.
2. Enter talk to a human, then click the enter icon.
3. Choose the options till you can choose a way to connect.
4. Pick Message an agent to start a conversation with an expert.

You can also reach out to them through the Help menu by following the steps in this article: Contact QuickBooks Self-Employed Support. It includes our support hours so we can address your concerns promptly.

To learn more about putting your transactions on the correct line of your Schedule C, check out this guide: Categorise transactions in QuickBooks Self-Employed.

Furthermore, save this material to effectively manage recurring ones: Create bank rules to categorise banking transactions in QuickBooks Self-Employed.

We aim to shed light on your confusion and ensure organising the loans and repayments seamlessly. For more questions about mobile app-related concerns, kindly add them below. I'll be here to assist you.