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intrepidayurveda
Level 1

Categorizing income in QB Self-Employed

I am self-employed running my own business but at the same time I work as a part-time employee at another business that sends me a paycheck every two weeks. How do I categorize this income on QB self-employed? Since it is employment income I have already paid taxes on it so I don't want it to be mixed with my self-employed income if the software doesn't differentiate. 

3 Comments 3
Kevin_C
Moderator

Categorizing income in QB Self-Employed

I appreciate you for sharing the in-depth details of your concern, @intrepidayurveda.

 

I recognize how essential it is that you appropriately categorize your income in QuickBooks Self-Employed (QBSE).

 

QuickBooks categorizes your transactions and places them on the relevant line of your Schedule C, as well as organizes your income and expenses so you can see which aspects of your self-employed business have the most impact.

 

While we're unable to suggest which category to use, I would recommend seeking assistance from an accountant. They have more knowledge about self-employment accounting.

 

To learn more about the process of categorization, you can check out this article: Categorize and edit transactions in QuickBooks Self-Employed.

 

Additionally, visit this resource to see different information on how QBSE tracks your business income and taxes: QuickBooks Self-Employed Overview.

 

Please let me know if you have further questions or concerns about this process. I'm happy to lend a hand. Take care and have a great day!

intrepidayurveda
Level 1

Categorizing income in QB Self-Employed

Thank you. According to the article you linked, "categorize and edit transactions in QuickBooks Self-employed", I should be categorizing non-self-employment income as "Personal". Thank you for your help!

ZackE
Moderator

Categorizing income in QB Self-Employed

Thanks for following up with the Community, intrepidayurveda.

 

I'm happy to hear Kevin_C was able to help with how to categorize your income transactions.

 

You'll also be able to find many detailed resources about using QuickBooks in our help article archives.

 

Please don't hesitate to send a reply here or create a new thread if there's ever any questions. The Community's always here to help. Have a wonderful day!

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