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stephanie young
October 12, 2022

soul trader second income / business

  • October 12, 2022
  • 1 reply
  • 0 views

I am a soul trader, a graphic designer and I have started dog walking. I need to add the dog walking as a 2nd business when doing my tax return. How do I do this without having to have 2 accounts?

 

I want to be able to isolate the income and outgoings for the dog walking within my existing account so only one set of bank records. i.e.

Petrol - 10% personal 20% graphic design 70% Dog walking.

Printing 100% Graphic design.

Walking boots 100% dog walking.

 

It was suggested to upgrade to the Simple Start plan, but I can not find any information on the functions within this plan to do what I need. Also the Simple Start plan does not have the Business / personal option listed within its features....

    1 reply

    Fiat Lux - ASIA
    Fiat Lux - ASIA
    October 12, 2022

    Your best option is to signup for a new QBSE or QBO Simple Start account for your second business. Keep in mind, you are not allowed to use the same email address if you have used it for your first QBSE account. Another option, signup for QBO Plus to utilize the Location feature to separate your business.

    https://quickbooks.grsm.io/UK

     

    S
    stephanie youngAuthor
    October 12, 2022

    Hay. I already have a QBSE that I have been using for my graphic design. My main concern is that if I open another QB account that I will have to do twice the amount of work in regards to managing my bank accounts and categorizing / splitting the income - that could also lead to cross over and mistakes.

     

    What does QBO offer?

     

    Can I manage both in one place with this?

    S
    stephanie youngAuthor
    October 12, 2022

    How does this work with my bank accounts?

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