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Do I have to show my state pension in quickbooks

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I receive a state pension into my personal bank account do I have to show this in quick books to pay tax on it

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Ashleigh1Answer

Hello AnnNLG,

Welcome to the Community page,

We would advise you speak to a trained and qualified accountant who will be able to assist you with your query.

State Pension is (I'm pretty sure) paid without tax deduction - so is counted as taxable income.

(Most) Private Pensions are paid after tax but you must still account for it as income in case other earnings take you through one or other tax thresholds.

Whether you enter either in QBO or account for it separately is up to you.

Hope this helps.

Ashleigh1Answer

Hello AnnNLG,

Welcome to the Community page,

We would advise you speak to a trained and qualified accountant who will be able to assist you with your query.