cancel
Showing results for 
Search instead for 
Did you mean: 
ldspianogirl
Level 1

Hi, how do I view totals individually for categories which I think are lumped under "other business expenses" - such as "transaction fees" or "other tools and equipment" ?

 
1 Comment 1
Rea_M
Moderator

Hi, how do I view totals individually for categories which I think are lumped under "other business expenses" - such as "transaction fees" or "other tools and equipment" ?

Hello there, @ldspianogirl.

 

The QuickBooks Self-Employed (QBSE) program will provide the total of your business income and expenses. You can pull up the Profit and loss report from the Reports menu. Then, you'll have to manually calculate the individual total under the Other business expenses (transaction fees or other tools and equipment). Here's how:

  1. Go to the Reports menu.
  2. In the Profit and loss section, filter the date you want.
  3. Select View.
  4. Go to the Expenses section, then select the total amount for Other business expenses.
  5. In the Transactions tab, select the Type drop-down menu.
  6. Choose Spending, then choose either Transaction/processing fees or Other tools and equipment.

 

I've attached a screenshot below that shows the last two steps.

 

You'll have to categorize your transactions to make sure you're able to put them to the correct line of your Schedule C form. Then, you can identify what areas of your self-employed business have the biggest impact. To learn more about this, you can check out this article: Categorize transactions in QuickBooks Self-Employed. It also includes instructions about editing or recategorizing transactions.

 

Additionally, you can create bank rules to automatically categorize your transactions in QBSE. To learn more about this, kindly refer to this article: Create rules to speed up reviews in QuickBooks Self-Employed.

 

Please know that you're always welcome to comment below if you have other concerns or follow-up inquiries about monitoring business expenses in QBSE. I'm just around to help. Take care always.

Need to get in touch?

Contact us