Skip to main content
R
RCMECHANIC
December 2, 2021
Solved

Paid Invoices not adding to total transactions?

  • December 2, 2021
  • 1 reply
  • 0 views

I am new to  quickbooks for self employment, i have managed to set up and use the invoices to send and then mark as paid. However i thought then it would automatically be added to the transactions list to show a payment in and be added to your profit totals? Does anyone know if this is possible ?

Best answer by Ashleigh1

Hello Ragnar Us, so the invoices section in Quickbooks self employed is not linked to the transactions section. The invoice section is just so you can track what is going on. If the transaction for the paid invoice transaction has not come though the bank then you could to add it manually as only the transaction section in self employed links to your tax summery. 

1 reply

M
Maybelle_S
December 2, 2021

Good day to you, @RCMECHANIC.

 

Let's categorize those paid invoices by categorizing them under business income. This makes sure the right money is included in financial reports and Schedule C.

 

Once those invoice payments are downloaded on your Transactions tab, you can categorize them as income. I'm glad to show you how:

 

1. Go to the Transactions menu.

2. Find a transaction on the list.

3. Select Business if the transaction was for business. 

4. Review the category in the Category column. QuickBooks tries to categorize transactions for you.

5. If you need to change the category, select the category link.

6. Select a general type, and choose a more detailed category.

 

Feel free to read through this article: Categorize transactions in QuickBooks Self-Employed to learn how to track your invoices.

 

Let me know if you need additional information by commenting below. I'm always right here to help.

R
Ragnar Us
January 26, 2022

I don't think you understand the question. I read it in a way that I'm also trying to sort things out. We don't want to link the bank account/card. We would like to have the invoices marked as paid in QB to show as incoming transactions. That way QB Self-employed would calculate correctly the self-assessment values. 

A
Ashleigh1Answer
January 26, 2022

Hello Ragnar Us, so the invoices section in Quickbooks self employed is not linked to the transactions section. The invoice section is just so you can track what is going on. If the transaction for the paid invoice transaction has not come though the bank then you could to add it manually as only the transaction section in self employed links to your tax summery. 

Terms & ConditionsAccessibility statement