Skip to main content
November 10, 2023
Question

I paid my Q3 taxes on time but my payment listed is being applied to Q2 as a "late payment". Why will it not be applied to Q3?

  • November 10, 2023
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

MariaSoledadG
November 10, 2023

Let me elaborate on some details of why this is happening, Katyr.

 

Normally, after you make a payment, you'll have to categorize them in QuickBooks Self-Employed. If in case the account you paid from is connected to online banking, categorize the downloaded payment. If ever you paid by mail or your account is connected, add and categorize the payment manually. 

 

On the other hand you'll have to make sure that the date of your payment is within the date range of your Quarterly taxes. In addition, if you made a tax payment, but the quarter you paid still shows overdue, review the tax payment you made. To do so, follow the steps outlined below:

 

  1. In QuickBooks Self-Employed, go to the Transactions menu.
  2. Look for the tax payment.
  3. Make sure the payment is categorized for Business as Estimated taxes.
  4. To make changes, select the type and category from the Type or Category column. Then select a new option.

 

Once done, the payment should now be properly accounted for. Always ensure to mark tax payments as Business and categorize them as Estimated taxes to prevent issues.

 

However, if it is still not resolving the issue, you can move the payment to the quarter so it matches the correct one. Here's how:

 

  1. Go to the Taxes menu.
  2. Select the small arrow icon ▼ for the quarter you paid for.
  3. Look for your tax payment.

But, if you're not seeing the payment in the correct quarter: Proceed with the steps below:

 

  1. Select the Find your estimated tax payments link.
  2. Follow the onscreen steps to select and match the correct tax payment.
  3. Go back to the Taxes menu.
  4. Look for your tax payment.

 

After you move the tax payments to a different quarter, or change the dates of older tax payments, the totals for each quarter change. Please know that the current quarter may show the tax payment as "overdue" after you move it. As long as the payment is in the correct quarter in QuickBooks Self-Employed and you made the payment, everything is just fine.

 

Additionally, QuickBooks doesn't only help you record your self-employed income and expense, but it also tracks mileage, and prepare your Schedule C tax form. Here's an overview of everything that QBSE can do. Check out this article for more details: Overview Of QuickBooks Self-Employed.

 

Let me know if you need further assistance with any tax payment concerns. I'll be one post away if you need help. As always, we're always here in the Community to make sure we get you covered. Have a good day ahead!