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jami-libnat
Level 1

Is there a place to add Returns and Allowances manually in Quickbooks Selft Employed? If Yes where is it?

My Accountant told me to log insurance chargebacks under returns and allowances. I need to locate that in Self Employed
1 Comment 1
LollyNino_C
QuickBooks Team

Is there a place to add Returns and Allowances manually in Quickbooks Selft Employed? If Yes where is it?

Thank you for visiting the Community. Let me share some information about creating a refund in QuickBooks Self-Employed (QBSE), @jami-libnat.

 

In QuickBooks Self-Employed, there's no direct feature to add Returns and Allowances directly. However, you can add the returns and allowance entry manually through the Transactions page. Then, categorize it as personal since it’s not part of your estimated taxes. Make sure that the correct account-based Schedule C categories are assigned. Let me show you how: 

 

  1. Go to the Transaction menu and select Add Transaction.
  2. Enter the amount and a description.
  3. Select the Select a Category menu. Select the best category to organize your transaction. Learn more about categories.
  4. If you have a receipt, you can drag and drop it onto the form.
  5. When you’re done, select Save.

 

On the other hand, I suggest checking with an accountant or tax adviser for help in claiming the allowable allowances. They can recommend the specific deduction to assign the asset, tools, and equipment. You can visit this page to find an account near your area: Accountants Near Me | Chartered Accountants.

 

Moreover, I'll add this article to help you organize your income and expenses: Categorize transactions in QuickBooks Self-Employed.

 

Stay in touch if you need some help when working in QBSE. I’ll be right here to help and make sure you’re taken care of. Have a great rest of the week.

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