Welcome to the Community, @twohawksfly-intu.
Allow me to shed some light on categorizing loan payments in QuickBooks Self-Employed (QBSE).
Before anything else, I recommend consulting an accountant to ensure your transactions are documented accurately. If you need help in finding one, you can use our tool to locate a nearby professional.
To record your loan payments for your newly purchased computer, you can simply select the Other business expenses category. I'll guide you on how.
- Open your QBSE account.
- On the left navigation panel, click Transactions.
- Click the Add transaction button.
- Enter the necessary details including the date, description, and amount.
- Click Select a category.
- Type Other business expenses. Then, select it.
- Hit Save.
Just take note that you'll need to repeat the process every time you create a payment for the loan. This way, QuickBooks will automatically put your transactions on the correct line of your Schedule C.
For more information on the different Schedule C categories, you can check out this article: Schedule C and expense categories in QuickBooks Self-Employed.
For future use, here's an article on how QBSE helps you estimate your federal tax payments: Automatically estimate your income tax in QuickBooks Self-Employed.
Please feel free to leave a reply if you have any other questions about recording your transactions in QBSE. I'll be around to help out.
