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June 13, 2021
Question

How do I adjust the total amount Quickbooks shows we owe of Quarterly taxes, since I already paid Q1?

  • June 13, 2021
  • 1 reply
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I paid Q1 but , Quickbooks is adding this amount ( already paid) to what it shows for Q2. why? How do i fix this?

1 reply

June 13, 2021

Hello, amberisintexas-g.

 

I'll help you fix your quarterly estimated taxes in QuickBooks. 

 

You'll want to check your transactions if they are under the correct quarter. You'll want to go to the Transactions tab, then double-check the dates of the transactions from there.

 

Select a transaction to edit the dates and the category. Though, this only works for transactions that were manually added. 

 

If those transactions are from a connected bank account, then the system might've automatically adjusted your estimated taxes based on your profit.

 

This is a normal behavior in QuickBooks Self-Employed.  You can find more details here: How QuickBooks Self-Employed tracks self-employment taxes

 

More details about paying your estimated taxes can be found here: Pay federal estimated quarterly taxes in QuickBooks Self-Employed

 

If you need to record your next expenses or receipts, check out this article for a guide: Record or attach expense receipts in QuickBooks Self-Employed

 

Do you have other questions about your estimated taxes or transactions? Feel free to leave your comments below. I'll get back to you to help you out.