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Dec 8, 2020 5:04 PM UTC
Question

How do I categorise business assets/investments that don't depreciate like equipment that will last years?

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1 reply

MJoy_D
Dec 8, 2020 6:46 PM UTC

Let me show you how to categorise transactions in QuickBooks Self-Employed (QBSE), @leah-lloyd.

 

There are lots of categories available in QuickBooks Self-Employed (QBSE). We are following HMRC's SA103F categories for self-employed individuals. To select the best category that suits this transaction, I suggest consulting an accountant for guidance with the best category to use.

 

Here's how to categorise transactions in QuickBooks Self-Employed. You can check this article to know more about the SA103F deduction categories: About SA103F Categories.

 

See this guide on how to enter your business income and expenses manually in QuickBooks Self-Employed (QBSE): Manually add transactions in QBSE.

 

Please know you can continue to reach me here with any additional questions or follow-up questions in categorising your transactions. Keep safe and enjoy the rest of the day!