Thanks for coming back, Tint train.
We appreciate you for providing us with a screenshot to better isolate the issue. Since you access your QuickBooks Self-Employed (QBSE) account on a mobile app, we can go to the Transactions section. Then, you'll have the option to swipe left to categorise them as Business or right for Personal. You can check out this article for the steps and details: Categorise transactions in QuickBooks Self-Employed. Then, go to On an iPhone or iPad (iOS) or an Android phone or tablet section.
On the other hand, the loan received will be tracked as Personal and isn’t part of the business income in QBSE. We can go to the Transactions page by accessing your account through the web and enter the amount. Here’s how:
- Go to the Transactions menu to select the Add transaction button.
- This displays field boxes where you can input the loan details.
- From there, enter the correct date, transaction information, and the amount.
- Under Type, choose Personal.
- Press Save to keep the record.
By the time you pay the capital amount, it is tracked under Business Loans. While the interest is categorized under Business Interest (Schedule C). To track these entries, perform the same steps above and categorize them accordingly.
Moreover, you can check out this article to view the complete list of categories used to track entries: QuickBooks Self-Employed Schedule C Categories breakdown.
Drop a comment below if you need more help with recording loans or any QuickBooks-related concerns. We're always here to help you in any way we can. Take care always.
