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Brittwales1
January 4, 2023
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Do I need to upload receipts if I have my bank account connected?

  • January 4, 2023
  • 2 replies
  • 0 views

I’ve recently connected my business bank account to my quick books account & all my transactions have appeared which I have then organised into categories. 
My question is, do I then have to upload all of my receipts and invoices to match each transaction? 

I really don’t see the point in adding my receipts if it’s all uploaded electronically via my bank account but want to double check with this one. 

 

Best answer by Rubielyn_J

I'd be glad to clarify things about uploading receipts in QuickBooks, @Brittwales1.

 

Online Banking (also known as Bank Feeds) is one of QuickBooks Self-Employed’s most practical and time-saving features. 

 

If you connect your bank accounts to QuickBooks Self-Employed, your recent transactions download automatically. This allows you to skip uploading your receipts and invoices.

 

Now that your transactions download automatically, all you have to do is approve the way QuickBooks categorises them. For detailed steps, you may utilize this article: How to categorise transactions.

 

I hope that answers your concern. Let me know if you have follow up questions about adding receipts and invoices in QuickBooks. I'm always around to help. Have a good day!

2 replies

Rubielyn_J
Rubielyn_JAnswer
January 5, 2023

I'd be glad to clarify things about uploading receipts in QuickBooks, @Brittwales1.

 

Online Banking (also known as Bank Feeds) is one of QuickBooks Self-Employed’s most practical and time-saving features. 

 

If you connect your bank accounts to QuickBooks Self-Employed, your recent transactions download automatically. This allows you to skip uploading your receipts and invoices.

 

Now that your transactions download automatically, all you have to do is approve the way QuickBooks categorises them. For detailed steps, you may utilize this article: How to categorise transactions.

 

I hope that answers your concern. Let me know if you have follow up questions about adding receipts and invoices in QuickBooks. I'm always around to help. Have a good day!

D
DavidRD
September 22, 2024

Hi,

 

Can you confirm that this is still the case? There are conflicting statements online about keeping receipts for the taxman. 

The transaction is not a receipt, so are you sure I don’t need to attach a receipt to each transaction?

 

 

R
RCV
September 22, 2024

I'm here to explain the importance of attaching receipts in QuickBooks Self-Employed (QBSE), DavidRD.

 

When adding receipts in QBSE, it ensures all transactions are recorded to back up your financial statements. Also, stored receipts are important during tax season since they are proof of costs and deductions claimed on tax returns. QuickBooks then organizes these receipts for you so they are ready for tax time and audits. 

 

If you need to upload images, you can follow the steps below:

 

  1. Go to the Transactions menu.
  2. Select Add receipt.
  3. Upload an image of your receipt.

 

You can check out this article for more details about several ways to enter expense receipts: Record or attach expense receipts in QuickBooks Self-Employed.

 

Moreover, refer to this article if you need to export receipts all at once or one at a time: Export receipts from QuickBooks Self-Employed.

 

Don't hesitate to add a comment if you have any other questions about uploading receipts or any QBSE-related concerns. I'll get back to you as soon as possible. 

paul72
paul72
January 5, 2023

Hi @Brittwales1 

 

Even without connecting the bank account there is no requirement for receipts/bills to be uploaded to QBO - it's purely a convenience.

If you're worried about MTD - again, the requirement is only to have the records in a digital format not to have a scan or photograph of every piece of paper you receive.

 

Hope this helps.

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