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M
Mhbphotography
April 7, 2022
Question

Quickbooks Self Employed- Cash Payments

  • April 7, 2022
  • 2 replies
  • 0 views

Hello, Im wondering how you declare cash payments, I guess doing a manual transaction you can add the cash transaction- which is fine.....but what if you want to put it into your account- it will show up as a double transaction??? Can someone please help??

2 replies

K
Kurt_M
April 7, 2022

Thanks for dropping by here in the Community, @Mhbphotography. I'll share some insight about adding transactions in QuickBooks Self-Employed (QBSE) and then I'll guide you on how to create one so you can proceed to record those payments in your account.

 

When you manually add transactions to QBSE, it won't create a duplicate in your account. If you downloaded the transactions from your bank, and when you plan to import them to your QuickBooks, there's a tendency that you'll encounter duplicates in your account.

 

To manually add transactions in QuickBooks Self-Employed, here's how:

 

  1. Go to the Transaction menu and select Add Transaction.
  2. Enter the amount and a description.
  3. Select the Select a category menu. Select the best category to organise your transaction.
  4. If you have a receipt, you can drag and drop it onto the form.
  5. When you're done, select Save.

 

If you're using iPhone, iPad (iOS) or Android phone, tablet. You can refer to this article for the steps: Manually add transactions in QuickBooks Self-Employed.

 

In case you'd like to import downloaded bank transactions to QBSE, you can refer to this article for the steps: Manually import transactions into QuickBooks Self-Employed.

 

Additionally, I'll be leaving these articles to help you in the future:

 

 

If you require further support, please do not hesitate to react out to me. I'd be more than pleased to assist you. I'll be waiting for your response. Keep safe and stay hydrated!

M
MhbphotographyAuthor
April 7, 2022

No this is what i mean, I know how to add manual transactions, i mean if i deposit the cash (after i do the manual transaction which is live) it will then duplicate the record from the linked bank account....

R
RoseJillB
April 7, 2022

Thank you for your prompt reply, @Mhbphotography. I’ll provide further information regarding adding transactions in QuickBooks Self-Employed (QBSE).

 

Since your online banking is connected to your QBSE account, the transactions you’ve made will be automatically downloaded to your banking transactions. Then, you also mentioned above that you manually added these transactions. Therefore, this could be the reason why there are duplicates on your end.

 

If you have already entered them manually, you can exclude the downloaded transactions using a web browser by following the steps below:

 

  1. Go to the Transactions menu.
  2. To expand the screen, find the transaction you wish to omit and select it.
  3. Check the box next to Exclude this transaction.
  4. Select the Save.

 

If you’re using a mobile device to exclude the transactions, then you can refer to this article: Exclude or delete transactions in QuickBooks Self-Employed.

 

In addition, utilize this article to learn more about categorising transactions in QuickBooks Self-Employed.

 

Should you need further assistance with your banking transactions, you can always hit the Reply button. Stay safe!

paul72
paul72
April 8, 2022

Hi @Mhbphotography 

 

I don't use the Self Employed product so this may not be quite as easy as I think.

 

Create a new 'Bank' account called Petty Cash (or Cash in Hand).

Receive the payment into that account.

If you then deposit the cash into your actual bank account, categorise it as a Transfer (one account to another) rather than payment received - this will avoid the double-counting you're worried about.

Or, if you use it for paying someone else, you can use this Petty Cash account for the Expense in QBSE.

 

Hope this helps.

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