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jane67
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

 
13 REPLIES 13
SarahannC
Moderator

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hello there, @jane67. Welcome to QuickBooks Community!

 

You can create a bank deposit to record the SEISS grant which was paid from your personal account. This process is for QuickBooks Online. Here's how:

 

  1. Go to the + New button.
  2. Under the Other column, select Bank Deposit.
  3. Select the bank in the Account field.
  4. Enter all other details including the date of the deposit, amount, account, and reference number.
  5. Then, click Save and new.

 

Since you're using QuickBooks Self-Employed, these are the steps that you can follow:

 

  1. Go to the Transaction menu.
  2. Select Add Transaction in the upper-right corner.
  3. Enter the amount and a description.
  4. Select the Select a category menu and choose the appropriate one. 
  5. If you have a receipt, you can drag and drop it onto the form.
  6. Then, select Save.

 

To help you more about the best category to organize your transaction, feel free to check these articles:

 

 

Let me know if you have follow-up questions about it. Take care and stay safe always.

jane67
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hi Sarah

 

Thank you for your reply.

 

I had already done what you recommended but I have probably made a mistake on the way.  I use Quickbooks Online. I added the SEISS payments but unfortunately, I added them to my business account. So now I don't balance and it won't let me delete or amend.  Aaargh! Can you help?

 

Jane

John C
QuickBooks Team

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hi jane67 We appreciate that you state you're self employed however are you using the self employed product or one of the small business products as they are also suitable if you're self employed. Do the screen shots/the method that Sarah posted above relate to your account? What's happening when you attempt to delete the transactions?

jane67
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hi John

 

I'm using Quickbooks Online

 

When I delete the SEISS entries into the bank deposit and try to save it comes up with 

 

Something's not quite right

Please enter at least one line item

 
Jane
 
jane67
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Quickbooks Essential is the product I'm using

Ashleigh1
QuickBooks Team

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hi Jane67, please could you send us a screenshot of the page where your getting this error so we can look into this more for you. 

jane67
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Ashleigh1
QuickBooks Team

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hi Jane, can you ring the support line on 0808 234 5337 and you will be able to set up a screenshare with the agent on the phone so they can have a look into this in more detail with you and guide you to get this issue fixed. The line is open from 8-7 mon to fri. Thanks 

jane67
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hi Ashleigh

 

I tried that yesterday and on both occasions the call dropped out


@Ashleigh1 wrote:

Hi Jane, can you ring the support line on 0808 234 5337 and you will be able to set up a screenshare with the agent on the phone so they can have a look into this in more detail with you and guide you to get this issue fixed. The line is open from 8-7 mon to fri. Thanks 



.  The first time I hadn't get beyond saying my name and the second call I had shared my screen. The guy went off to check something with a colleague and then the call dropped. He didn't phone me back:-(

 

I'll just have to try again

Abby7E
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Re: How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered.

I run my small business out of my personal account. I can clearly see the SEISS payments already but dont understand where to put them. I looked at the picture and beginning of instructions and cant find where you mean. 

I have a self employed quickbooks account. 

Joesem M
QuickBooks Team

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Thanks for joining this thread, @Abby7E.

 

Since you already see the SEISS payments, you'll have to record and categorise them to the correct account. That said, I recommend consulting your accountant for specific instructions. They can help you on where to enter the transaction and categorise them to ensure your books are accurate.

 

 If you don't have one, we can help you look for an accountant near you. Just go to our Find-an-accountant page and enter your zip code. 

 

To categorise the transaction, follow these steps:

 

  1. Go to the Transactions menu.
  2. Find a transaction on the list.
  3. Select Business if the transaction was for business.
  4. Review the category in the Category column. QuickBooks tries to categorize transactions for you.
  5. If you need to change the category, select the category link.
  6. Select a general type, and choose a more detailed category.

 

Also, check out these handy articles for more details about categorising transactions in QBSE:

 

 

You can always get back to me if you need further assistance in recording transactions or any concerns with QuickBooks. I’ll be more than happy to work with you again. 

Abby7E
Level 1

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

I no longer use an accountant, I use quickbooks!! 

I have contacted my old accountant who has suggested creating a new account.

but this option is not available in quick books self employed. I can only add another bank account.

but this is unnecessary as I can already the payments.

 

this is crazy, I cannot seem to get an answer from anyone ??

 

please help

 

Abby !!

Ashleigh1
QuickBooks Team

How do I record the SEISS grant which was paid into my personal a/c? I need to enter it into Quickbooks as it's taxable. I am self employed and not VAT registered

Hello Abby7E, so as the grant is subject to income tax you would have to categorise it as business income on the transaction in your self employed account. 

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