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geriko
March 1, 2023
Question

Adding transactions current account

  • March 1, 2023
  • 1 reply
  • 0 views

Hi there,

 

In the sole trader account how do you add a transaction that comes under current account and not cash? It seems to default to cash with no way of changing it. Also I can't seem to add a transaction as personal, it defaults to business and gives me no dropdown to change it. 

 

The only slightly hacky way ive found of going around this is setting up rules to change something based on the name to personal spending... seems silly if this is the only way?

1 reply

G
Giovann_G
March 1, 2023

I'll share some information to help you manage your transactions, geriko.

 

That is correct. It will default to cash when adding transaction if your current account isn't connected in QuickBooks Self-Employed. The software helps you track your income, expenses, mileage, and tax information. You can link your bank account to choose the current account.

 

Here's how:

 

  1. Select the profile ⚙ icon and then select Bank accounts.
  2. In the search box, enter the name or URL of your bank. Then click Continue. If you've already connected an account before, select Connect another.
  3. Enter the sign-in info you use for your bank's website.
  4. Once done, click Connect.

 

The system also allows you to separate your personal and business spending if transactions are imported from your bank feeds. This option isn't available for manually entered transactions..

 

Additionally, I've included this resource to help you categorise your transaction so they'll show on the correct line of your Schedule C report: Categorise transactions in QuickBooks Self-Employed.

 

You're welcome to post again if you have additional questions or concerns. Have a great day.

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