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amber-fontenot
Level 1

I have business income transactions being labeled as "transfer" instead of income (Paypal/bank transfers) even if I select "business." How can I label them as income?

 
Solved
Best answer April 10, 2021

Best Answers
MichelleBh
Moderator

I have business income transactions being labeled as "transfer" instead of income (Paypal/bank transfers) even if I select "business." How can I label them as income?

Hi there, @amber-fontenot.

 

I appreciate you for changing the type before posting in the Community. Let me share with you some information about how to label transactions in QuickBooks SElf-Employed (QBSE).

 

You can label the transaction by changing the category manually. Please note that the PayPal transaction should be categorized as Business Income. Then the checking account transactions should be marked as a Transfer. That's because you received the income in PayPal and simply relocated that same money.

 

See the sample screenshot below for your reference: 

 

 

If you're unable to modify it, I'd recommend logging in to your QBSE account through incognito. A lot of caches can sometimes cause this to happen. 

 

Here are the shortcut keys:

 

  • Google Chrome: Ctrl + Shift + N
  • Safari 11 or newer: ⌘ + Shift + N
  • Mozilla Firefox: Ctrl + Shift + P
  • Microsoft Edge: Ctrl + Shift + P

 

From there, re-select the Business Income to verify if it's already performing well. If you're able to do so, please go back to your normal browser and clear the cache to speed up your overall browsing experience. Using other supported browsers is a good dilemma too.

 

Once everything is set, you also have an option to create a rule to inform our system to continuously mark transactions like these as Transfers. For more details, check out this article: Transfers between accounts in QuickBooks Self-Employed.

 

You may also visit these links about categorizing transactions and other related topics. 

 

 

Feel free to let me know if you have further questions about your PayPal data. I'm always ready to help. Take care.

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3 Comments 3
MichelleBh
Moderator

I have business income transactions being labeled as "transfer" instead of income (Paypal/bank transfers) even if I select "business." How can I label them as income?

Hi there, @amber-fontenot.

 

I appreciate you for changing the type before posting in the Community. Let me share with you some information about how to label transactions in QuickBooks SElf-Employed (QBSE).

 

You can label the transaction by changing the category manually. Please note that the PayPal transaction should be categorized as Business Income. Then the checking account transactions should be marked as a Transfer. That's because you received the income in PayPal and simply relocated that same money.

 

See the sample screenshot below for your reference: 

 

 

If you're unable to modify it, I'd recommend logging in to your QBSE account through incognito. A lot of caches can sometimes cause this to happen. 

 

Here are the shortcut keys:

 

  • Google Chrome: Ctrl + Shift + N
  • Safari 11 or newer: ⌘ + Shift + N
  • Mozilla Firefox: Ctrl + Shift + P
  • Microsoft Edge: Ctrl + Shift + P

 

From there, re-select the Business Income to verify if it's already performing well. If you're able to do so, please go back to your normal browser and clear the cache to speed up your overall browsing experience. Using other supported browsers is a good dilemma too.

 

Once everything is set, you also have an option to create a rule to inform our system to continuously mark transactions like these as Transfers. For more details, check out this article: Transfers between accounts in QuickBooks Self-Employed.

 

You may also visit these links about categorizing transactions and other related topics. 

 

 

Feel free to let me know if you have further questions about your PayPal data. I'm always ready to help. Take care.

amber-fontenot
Level 1

I have business income transactions being labeled as "transfer" instead of income (Paypal/bank transfers) even if I select "business." How can I label them as income?

Thank you for your response.

 

After reading your response, I realized I was able to mark these transactions (both PayPal and the payments I received from clients via bank transfer) as income by using the arrow next to the category under the "category and tags" column first, then selecting "business" under the "type" column. My mistake was that I was trying to change the "type" column while the category was still labeled as "transfer."

amber-fontenot
Level 1

I have business income transactions being labeled as "transfer" instead of income (Paypal/bank transfers) even if I select "business." How can I label them as income?

Thank you for your response.

 

After reading your answer, I realized I was able to label these transactions as income (both PayPal transactions and payments I received from clients via bank transfer) by first using the arrow next to the category under the "category and tags" column to change the category, and then I was able to change the type to "business" under the "type" column also. My mistake was that I was trying to change the type to "business" while the category was still set to "transfer."

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