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September 6, 2022
Question

Using Self Employed Ho can I enter into self employed my quarterly taxes paid?

  • September 6, 2022
  • 1 reply
  • 0 views
Does the tax due amount show the amount due for the current quarter or does it show the running amount for the year

1 reply

MichelleBh
September 6, 2022

Entering paid taxes is just a few clicks of your mouse, and you'll be an expert in no time, @philnashbroker.

 

I'll share what period shows the taxes due and provide options for entering the paid quarterly taxes in QuickBooks Self-Employed. This way, you can complete your task quickly.

 

Option 1: If the account from which you made the payment is linked to online banking, I'd recommend categorizing the transaction when it downloads. Go as follows:

 

  1. Go to the Transaction menu on the upper left side. 
  2. Locate the tax transaction in the list. 
  3. Manually assign its category from Taxes & Licenses to Estimated Taxes.

 

Option 2: If you paid with an account that's not connected to online banking, or you paid by mail, manually record the payment:

 

  1. Go to the Transactions menu and choose Add transaction.
  2. Enter "(Date and fiscal year) quarterly federal tax payment" in the description field.
  3. Type the amount and the date you made the payment.
  4. In the Category column, type Estimated Taxes in the search bar. 
  5. Click Save.

 

Option 3: Manually mark the taxes as paid. Perform the following actions:

 

  1. Go to Taxes from the left menu and set the year. 
  2. Select the Quarterly tab. 
  3. Choose the quarter you want to mark the tax payment for.
  4. Click Pay now or Find your estimated tax payments hyperlink to find the amount. 
  5. Check off the tax payment and hit Mark as tax payment.

 

Taxes are moreover typically displayed on QBSE periodically. However, you are free to examine the tax amount by clicking the Annual and Quarterly tab. You may use the screenshot below as a guide:

 

Additionally, you can run the Tax Summary or Tax Detail report to analyze your tax-related operations.

 

Do you want to know what tax categories are supported in QBSE? Please visit these links below:

 

 

Please return to the Community if you require additional assistance with your QuickBooks tax payments. I'd be delighted to assist you. Have a safe and enjoyable afternoon.