Thanks for checking in with us, marshamcfalls-ve.
I can share the steps on how to enter the reimbursement transaction in QuickBooks Self-Employed. However, categorizing it needs the assistance of your tax adviser. They'd be able to give you advice on how to keep track this reimbursement.
To enter a transaction:
To help you with the categorization, you can refer to this article: Updates to expense categories in QuickBooks Self-Employed. This will help guide you on how to report your self-employed income and expenses.
Additionally, you can visit the following write-up regarding how Schedule C categories show up on your financial reports: Schedule C and expense categories in QuickBooks Self-Employed.
Keep in touch if you need any more assistance with this or there's something else I can do for you. I've got your back. Have a good day and keep safe.
Thank you for your reply. Is there a way in the transactions to differentiate between "true' income" and deposits made for reimbursements? I know the reimbursables deposits are not taxable but would still like to keep track of payments by clients. Thanks!
Welcome to the Community, @DrMarsha3. Let me further assist you with categorizing transactions in QuickBooks Self-Employed.
To move money between your business or personal accounts. Categorize transfers as Transfers in QuickBooks Self-Employed to keep your accounting clean and accurate.
Let me show you how:
Also, I'd suggest adding Notes and Tags to your transaction.
Please see this sample screenshot for reference:
You can check this link for more details about categorizing money transfers in QBSE.
Also, you can refer to this article to see different information on how QuickBooks Self-Employed tracks your business income and taxes: QuickBooks Self-Employed Overview.
Stay in touch if you have any other questions or concerns about managing your bank transactions. I’ll be right here to answer them for you. Enjoy the rest of the day.
Thanks for posting here again, @DrMarsha3.
I'm joining in to share some insights about this Self-Employment concern.
To share some clarifications, QuickBooks Self-Employed only have one category for income. You can use that category to tag true income. For now, we don't have a category for reimbursements, so the alternative for that is to record the reimbursement as a transfer. You utilize that so it shows an increase in your balances.
The steps shared by Carneil_C is how you can update a category into transfers.
Please visit us again if there's anything else you need help with. I'll be more than happy to help you out.
Hello there, @DrMarsha3. Thanks for getting back to us.
I can see how this specific feature is beneficial to you and to other users, but the option you want is unavailable in QuickBooks Self-Employed.
Moreover, I do think this would be a great time to send this suggestion to our Product Development Team. We value your suggestions. This way, our developers can determine what features to add in QBO's future enhancements.
Alternatively, you can consider using QuickBooks Online to create custom categories. You can then use it to categorize your transactions.
Also, check out these articles for additional guidance about these functions:
You can also save these articles in case you will need them in your future tasks:
Don't hesitate to reach out or reply to me if you need anything else. We're always here to help with any QuickBooks-related questions and inquiries.