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catering
Level 1

Why is there a discrepancy between my transactions that have been categorized and my business expense report for the same time period?

 
1 Comment 1
JamaicaA
QuickBooks Team

Why is there a discrepancy between my transactions that have been categorized and my business expense report for the same time period?

Thank you for taking the time to visit the Community, @catering. I'd be happy to provide some information on your question regarding the discrepancies.


QuickBooks categorizes your transactions and places them on the right line of your Schedule C. This also helps you organize your earnings and expenses so you can see which aspects of your self-employed business have the most impact.


Let’s ensure we’re comparing the transactions from the same date range. If so, it’s possible that these are put into another category/location of your books. Let’s also review if you have duplicate transactions so we can exclude them.


If everything is fine, let’s take a look of these snippets to learn how Schedule C categories appear on reports.

 

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For more details about this, scan through this article: Schedule C and expense categories in QuickBooks Self-Employed


Given all the information, I'd still recommend consulting an accountant to help and guide you with these transactions. Your accountant can provide more expert advice in dealing with categorizing your expenses and income.


If you’ll need to modify or update a transaction, you can read this article for the detailed steps: Edit or recategorize a transaction


I'll be around if you have other questions. Place them in the comments below, and I'll take care of it.

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