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ClareSelley
January 25, 2021
Question

Hours Worked As Self Employed

  • January 25, 2021
  • 1 reply
  • 0 views

Hi,

 

I usually 'pay' myself £10/hour for each piece I make.

Bearing in mind I never see that £10/hr as it gets eaten up in other costs...

If I have 'paid' myself £4,800 for 4 months work, do I add this in as a withdrawal/wages even if I've never seen it and it's never 'gone' anywhere? So in theory the business owes me £4,800 in wages? Or as I'm self-employed for this part, do I not get to pay myself a wage and have that tax deductible?

 

Thanks!

1 reply

RenjolynC
RenjolynC
January 25, 2021

Hello, ClareSelley.

 

I'd like to share a category. Before doing so, please consult your accountant or tax adviser to make sure your reports are accurate.

 

You can select Wages and other staff costs category after clicking the Business expense type on the Transactions page. This is to properly track your transactions.

 

I'm also adding this article for more details: Categorise transactions in QuickBooks Self-Employed.

 

If you need anything else, please feel free to reach out to me. I'll get back to you as soon as I can. Take care!

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