Issuing yourself a wage

Hello Willybood

Thanks for contacting the Community

If you are paying yourself a wage and want to record it in Self Employed, the best way to do that is to use the owner withdrawal category. There is a wages and other staff costs category which you can use if you are paying other members of staff in the business. More information on this and the SA103F categories can be found here

If you wanted to change to the Essentials package you would have to cancel the Self Employed and take out the Essentials as a separate subscription as the products are different.

Any questions let us  know

Thanks

Emma

Emma.

Thanks for getting back to me.  I've been keeping track of my wages that way, is there anyway to calculate how much I owe to the HMRC through QuickBooks?

Thanks for getting back to me on this.

Hello again, @Willybood.

Thanks for following the steps and sharing the result of the solution provided by my colleague. Allow me to join the discussion and share some further insight on this matter.

Aside from updating the tax profile, we’ll have to check the income tax rate and specific class to use. This information can help the program calculate the correct amount of taxes.

To do this task, we’ll have to verify the account first. The Community is a public platform and we’re unable to perform this process here for the safety of your business.

I suggest contacting our QBSE Support Team. They can view the company information and review the setup in a secure environment.

To help give you a better idea about Income Tax rates and Personal Allowances, check out these articles:

• Income Tax rates
• National Insurance contributions
• SA103F Categories

When contacting them, you should now be able to pay the correct amount of taxes to the HMRC.

Stay in touch if you have additional questions about QBSE. Please know I’m just a comment away for help.

Thanks for your help. I've contacted the support team, hopefully that will resolve this.