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January 2, 2021
Question

I am self-employed and contribute to a pension. How do I record the payment in Quickbooks? It's not a "business expense" but I need to record/identify it for tax relief.

  • January 2, 2021
  • 1 reply
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1 reply

MaryLandT
January 2, 2021

I'm here to help record the payment in QuickBooks, rosie-scott.

 

Before we start, I can see that you've tagged this post under QuickBooks Online. If you're currently using QuickBooks Self-Employed, you need to correctly categorise the payment to ensure your estimated taxes are accurate.

 

Let me guide you with these steps:

 

  1. From the Transactions page, tap Add transactions.
  2. Enter a description and AMOUNT.
  3. Under the CATEGORY column, select the right one needed for your self-employment tax deduction.
  4. Click Save.

Check out this article to help manage your bank transactions: Categorise transactions in QuickBooks Self-Employed.

 

Let me know if you have follow-up questions by clicking the Reply button below. Just tag my name, and I'll get back to you.