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May 16, 2021
Question

How can I create a separate entry in QB Self Employed for taxes paid by Etsy on my behalf? This figure is not derived from a bank deposit; it is a manual entry that should reflect an expense.

  • May 16, 2021
  • 1 reply
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1 reply

May 16, 2021

Hi there, santinocala-gmai.

 

Welcome back to the QuickBooks Community, santinocala-gmai. I'll share different information on how the transaction works in QuickBooks Self Employed.

 

If you're referring to create a separate entry for a different business, this is currently unavailable. This is because you can only track one business or company in QBSE.

 

If you mean to enter a separate entry in QBSE within the same business/company, I suggest manually add the transaction. This way, the transaction will be under a cash account and you can choose the right category for this entry so you're able to record your data accurately. Before that, please note that you'll have to calculate the taxes paid made by Etsy to see the total payments. Then, to ensure your records are in shipshape, I reccomend consulting an accountant. They can provide suggestions on how to properly handle the entry and to select the right expenses.

 

  1. Go to the Transaction menu at the left panel
  2.  Select Add Transaction.
  3. Enter the amount and a description.
  4. Choose the Select a category menu. Then, seelect the best category to organize your transaction.
  5. If you have a receipt, you can drag and drop it onto the form.
  6. Hit Save.

 

For additional information, you can click this article: Manually add transactions in QuickBooks Self-Employed.

 

Please refer to this article to view different details on how QBSE is designed to help you record your self-employed income and expenses, track mileage, and prepare your Schedule C: QuickBooks Self-Employed Overview.

 

Please don't hesitate to let me know if you have other concerns about your self-employed taxes using QBSE. I'm just around to help. Stay safe always.