UK Sole trader account

I have always treated personal contributions as 'Owner Deposit'. QBSE has loads of limitations can be very frustrating.

Yeh it does seem so. Would I put any personal spending that's been done as owner withdrawal then I assume?

Hi, I treat any drawings, say to a personal bank account for living expenses (just like a salary) as Business/Owner Withdrawal.

If I go the the pub/shopping and use my business card to pay for drinks/clothes etc then I normally classify it as Personal spending and this then greys out the category options, as it's not a business expense.

Hope this is clear?

That's really helpful, thank you. When I am adding a transaction though, it's defaulted to business but I don't seem to be able to change it to personal, how can i edit that?

Hi there, @geriko.

To help you clear things out. In the UK version, you can only change the bank transactions' type from Business to Personal if they're imported from your bank.

However, this option isn't available for manually added transactions.

For future use, if you want to organise your transactions in QBSE. You can read through this article: Categorise transactions in Quickbooks Self-Employed.

Never hesitate to route back yourself here if you have additional questions about managing your transactions in QBSE. We'll be happy to lend a hand. Take care and have a blissful week!

Hi Bryan,

Thanks for the reply. Sadly I don't get a categories option in the tools area. I only see "Set up Tags" and "Create rules" 

@geriko, thank you for your response to this Community discussion. I appreciate your update on setting up the Personal categories feature.

You can switch the type from Business to Personal if it was imported from your bank, but you're unable to change it if you added it manually in QuickBooks Self-Employed. 

Please know that Bryan already updated the previous answer above.

Check out this article to learn how to generate a new transaction from a receipt image: Record or attach expense receipts in QuickBooks Self-Employed. QuickBooks can create recent transactions by scanning actual receipts. 

Feel free to click the Reply button again if you have further concerns about the categories option in QuickBooks Self-Employed. We're always willing to help you. Have a prosperous year with QuickBooks!

I quite disappointed in the offering from QB so far... documentation is near on useless as it references many things that don't seem available in my control panel. Why on earth wouldn't I be able to manually add a transaction as personal? It feels like a half baked product offering...

Hello Geriko, we are sorry to hear your disappointed with our product and with the way it works, we will pass all you have said on as feedback.