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Rebecca56
January 18, 2022
Solved

Codes SA103F categories different on Quickbooks reports tax summary to those on HMRC short tax return

  • January 18, 2022
  • 1 reply
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When run a report on tax>summary, codes don't correspond to those on the self employed (short) return making it very confusing to copy the figures from Quickbooks to HMRC. Also the QB software is out of date with current requirements eg no reference to SEISS grants!

    Best answer by GeorgiaC

    Thanks Rebecca56, our Tax Summary is designed in alignment with the full Self-Assessment (sa103F) whereas it appears you're completing the shortened version of this and so the boxes do not correlate, we can certainly share this with our team for consideration in the future as we're sure there will be others in the same boat. 🙂

    1 reply

    K
    Kurt_M
    January 18, 2022

    Thanks for reaching out here in the Community, @Rebecca56. Let me share some insights about your query.

     

    About the SA103F deduction categories. You can claim as allowable expenses for self-employment. It includes the SA103F box numbers, QuickBooks Self-Employed subcategories, and info about the type of expenses you can deduct and those you can't.

     

    For more information about SA103F, you can refer to this article.

     

    Please know that in order for this to go through, you’ll have to categorize the transactions properly.

     

    To categorize, these are the steps:

     

    1. Go to the Transactions menu.
    2. Find a transaction on the list.
    3. Select Business if the transaction was for business, or select Personal for personal. If the transaction was both, select Split.
    4. Review the category in the Category column. QuickBooks tries to categorize transactions for you.
    5. If you need to change the category, select the category link. Select a general type, and choose a more detailed category.
    6. When you're done, select Save.

     

    You might want to visit this article for more information about categorizing transactions in QBSE.

     

    About the SEISS grants, you can create a bank deposit to record the SEISS grant which was paid from your personal account.

     

    To begin, here’s how: 

     

    1.   Go to the Transaction menu.
    2.   Select Add Transaction in the upper-right corner.
    3.   Enter the amount and a description.
    4.   Select the Select a category menu and choose the appropriate one. 
    5.   If you have a receipt, you can drag and drop it onto the form.
    6.   Then, select Save.

     

    For visual reference, you can refer to the screenshot below.

     

     

    Check out these articles for further information on the appropriate category to organize your transaction:

     

    If you have further questions about this. Don't hesitate to get back to me. I'll keep an eye for your response. Keep safe!

    R
    Rebecca56Author
    January 19, 2022

    Thanks yes it is fairly straightforward to classify transactions. My primary question is the reference number which appears as I run a Self Assessment Summary report to copy across to the HMRC Self Employment form SA103S 2021 where the numbers do not correspond. See attached screenshot under item 17 on report does not represent box 17 on the HMRC form which is rather confusing. It would be helpful if there was some standardisation to ensure a simple consistent transfer of information.

    G
    GeorgiaCAnswer
    January 19, 2022

    Thanks Rebecca56, our Tax Summary is designed in alignment with the full Self-Assessment (sa103F) whereas it appears you're completing the shortened version of this and so the boxes do not correlate, we can certainly share this with our team for consideration in the future as we're sure there will be others in the same boat. 🙂

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