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Transactions
I got you here, jenny Mc1.
In QuickBooks, depositing each payment individually in your bank account is unnecessary. Since you will not track the transactions. The QBSE (QuickBooks Self-Employed) or HMRC (Her Majesty's Revenue and Customs) only require a report on your business's income and expenses, regardless of the customer.
To ensure your transactions are categorised correctly on your Schedule C, refer to these articles for guidelines:
- Categorise transactions in QuickBooks Self-Employed
- Handle duplicate transactions in QuickBooks Self-Employed
Please let me know if you have any additional QuickBooks or transaction-related questions. Leave a reply in the comments section, and I will get back to you. Take care, and have a fantastic day.
0 Cheers