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February 21, 2024
Question

State taxes from 2023, categorized as Business --> State Tax, are not appearing as expenses in my 2023 P&L report. Why not?

  • February 21, 2024
  • 1 reply
  • 0 views
I can find them in a search of transactions, when I search for the category Taxes and Licenses. The State Taxes paid and the Business licence expense paid all appear in my transactions search, categorized properly. Why don't they show up in the expense section of the P&L?

1 reply

February 22, 2024

Thanks for bringing this to our attention, fmason. Please be assured that I'll take care of your query and ensure it is resolved as soon as possible.

 

Can you please share the specific details on how the transactions were created in QuickBooks? Any additional information you can provide will help find an accurate solution for you.

 

Please note that QuickBooks Self-Employed is designed for freelancers, self-employed individuals, and independent contractors. With this software, you can easily keep track of your income, expenses, mileage, tax information, and even prepare your Schedule C

 

In addition, QuickBooks' Profit and Loss report is designed to simplify tax reporting by using expense categories corresponding to the Schedule C tax form. When you categorize a transaction, QuickBooks automatically matches it to the appropriate line on your Schedule C, making tax reporting much more straightforward.

 

If you have follow-up questions about your reports or statements, know that you can post them below. I'm always here to help. 

fmasonAuthor
February 22, 2024

The transactions were created by QB Self Employed via automatic import from Banner Bank. The Business categorizations were applied by a rule.