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Best answer February 05, 2020
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Hello there, @kristinasan-biz,
Tax payments, both for Federal and State are usually tagged as Business as they are company expenses. However, when recording refunds, you can tag them as Personal then exclude the refunded payment in your QuickBooks Self-Employed account.
Doing this will remove the payment from the transactions indicating that it has been refunded. Here's how to exclude them:
- Go to the Transactions tab and locate the Federal payment.
- Click to expand the transaction then mark the Exclude option at the bottom.
- Hit Save.
Next, if you connected your bank and downloaded the refund transaction, manually change the category as Personal.
Refer to these resources to learn more about recording taxes in QBSE:
How can QuickBooks Self-Employed help me manage my taxes and forms?
If you need further assistance with handling your self-employed taxes, you may reach out to our representatives. Here's how to contact QuickBooks Self-Employed Support.
Let me know how if you have other questions by leaving a comment below. I want to make sure you can account the taxes properly, and I'm here to provide further assistance whenever you need it. Cheering you a productive week!
Hello there, @kristinasan-biz,
Tax payments, both for Federal and State are usually tagged as Business as they are company expenses. However, when recording refunds, you can tag them as Personal then exclude the refunded payment in your QuickBooks Self-Employed account.
Doing this will remove the payment from the transactions indicating that it has been refunded. Here's how to exclude them:
- Go to the Transactions tab and locate the Federal payment.
- Click to expand the transaction then mark the Exclude option at the bottom.
- Hit Save.
Next, if you connected your bank and downloaded the refund transaction, manually change the category as Personal.
Refer to these resources to learn more about recording taxes in QBSE:
How can QuickBooks Self-Employed help me manage my taxes and forms?
If you need further assistance with handling your self-employed taxes, you may reach out to our representatives. Here's how to contact QuickBooks Self-Employed Support.
Let me know how if you have other questions by leaving a comment below. I want to make sure you can account the taxes properly, and I'm here to provide further assistance whenever you need it. Cheering you a productive week!
