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Sam1994
December 10, 2020
Solved

Employed but have a 2nd job on the side

  • December 10, 2020
  • 1 reply
  • 0 views

Hi there, 

 

I was wondering if anybody could possibly help at all please? 

 

I currently have a full-time job, i get paid monthly into my bank and work sort all my tax out etc, so that simply already comes off my monthly wage.


However, i also have a little side business on the go.. it's a website (Football betting tips) - Which people sign up to via PayPal - So these payments are recurring payment's which come through PayPal.

 

I already have my account linked up to PayPal, so i can categorize my payments (Business Payments, Personal etc).. 

 

But i was hoping the IntuitQuickbooks app would help me calculate my tax or help me when it's time to file my tax return online.


Does anybody know how to add my full-time job details in (which i pay tax for monthly) & also my secondary job, which i need to do a tax return for?

 

Any help would be appreciated. 

 

Thanks, Sam.

Best answer by Rasa-LilaM

I appreciate adding more information about your concern, Sam1994.


Based on the details provided, record the actual income through your Tax Profile in QBSE. This helps us in identifying your tax bracket. Then, input the payments on the Transactions page as income.


To add your full-time job transactions:

 

  1. Tap the Gear icon at the top to choose Tax Profile under Taxes.
  2. In the Tax settings window, go to the Tax Profile page section.
  3. From there, fill in the field boxes with the correct data.
  4. Hit Save to keep the changes. 

If you would like us to go into more detail into each section on the tax profile page we can do that just reply below.

Here’s how to input your business entries.

 

  1. Go to the Transactions menu on the left panel and click the Add transaction button.
  2. This action will display lines where you can key in the transaction details.
  3. Make sure to type the appropriate data in the field boxes and choose Income.
  4. Press Save to keep the changes.

For your other concerns, the program helps in preparing the HMRC Self Assessment. It automatically calculates your income, minus expenses based on the information you’ve uploaded to QuickBooks. However, VAT isn’t automatically included so you’ll have to take account of that. Click here for detailed information and then go directly to the Frequently asked questions section.


Let me share the following articles for future references.

 

Don’t hesitate to post a comment below if you have any clarifications or additional questions. I’ll be right here to help and make sure you’re taken care of.

1 reply

E
EmmaM
December 10, 2020

Hi Sam, your post has come through as both QuickBooks Accountant and QuickBooks Self Employed which product are you looking to enter the information into?

S
Sam1994Author
December 10, 2020

Self employed please, thanks 

R
Rasa-LilaMAnswer
December 10, 2020

I appreciate adding more information about your concern, Sam1994.


Based on the details provided, record the actual income through your Tax Profile in QBSE. This helps us in identifying your tax bracket. Then, input the payments on the Transactions page as income.


To add your full-time job transactions:

 

  1. Tap the Gear icon at the top to choose Tax Profile under Taxes.
  2. In the Tax settings window, go to the Tax Profile page section.
  3. From there, fill in the field boxes with the correct data.
  4. Hit Save to keep the changes. 

If you would like us to go into more detail into each section on the tax profile page we can do that just reply below.

Here’s how to input your business entries.

 

  1. Go to the Transactions menu on the left panel and click the Add transaction button.
  2. This action will display lines where you can key in the transaction details.
  3. Make sure to type the appropriate data in the field boxes and choose Income.
  4. Press Save to keep the changes.

For your other concerns, the program helps in preparing the HMRC Self Assessment. It automatically calculates your income, minus expenses based on the information you’ve uploaded to QuickBooks. However, VAT isn’t automatically included so you’ll have to take account of that. Click here for detailed information and then go directly to the Frequently asked questions section.


Let me share the following articles for future references.

 

Don’t hesitate to post a comment below if you have any clarifications or additional questions. I’ll be right here to help and make sure you’re taken care of.

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