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shamilt1
Apr 7, 2022 11:07 AM UTC
Solved

Cash payments

How do I link cash sale that I manually add in Quickbooks to the money once it’s been deposited into the bank? If I don’t somehow link them, it looks like I have received the money twice?

GeorgiaCAnswer
Apr 7, 2022 11:28 AM UTC

Hi shamilt, thanks for your post - it's not possible to match transactions in QB Self-Employed, so you'd either add these manually or through the direct bank feed. If you prefer to add manually, you can either disconnect the bank feed or exclude the downloaded transaction from your bank (tick the check-box to the left > exclude) to prevent duplications. 

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7 replies

GeorgiaCAnswer
Apr 7, 2022 11:28 AM UTC

Hi shamilt, thanks for your post - it's not possible to match transactions in QB Self-Employed, so you'd either add these manually or through the direct bank feed. If you prefer to add manually, you can either disconnect the bank feed or exclude the downloaded transaction from your bank (tick the check-box to the left > exclude) to prevent duplications. 

    maccol
    Apr 14, 2023 11:01 PM UTC

    Hi, I am new to QB, using Self- Employed. I would like some clarification please.

    Most of my customers pay me in cash at the end of the job without me issuing an invoice to them.

    I want to record this in QB so I presume I would enter each one individually into the cash account section. For example 20 x £50 jobs in a week = 20 entries with a weekly total of £1000.

    When I take this £1000 and pay it into my QB linked business account it will also be categorised as business income.

    Does this mean that my total income for that week will show as £2000 in QB or will the cash account figure not be included?

    If it will show as £2000 is there a way to correct it?

    Hope this makes sense.

    SirielJeaB
    Apr 15, 2023 1:11 AM UTC

    Hello! It's great to welcome you here in the Community forum, @maccol. It's my pleasure to provide you with the clarifications you need about managing your transactions in QuickBooks Self-Employed (QBSE).

     

    You can record the cash received from your customers without creating invoices and manually adding the 20 entries in QBSE. Here's how:

     

    1. Go to the Transaction menu, then click Add Transaction.
    2. Enter the amount and a description.
    3. Fill out the necessary fields, then select Save.

     

    Moreover, you can then exclude or delete the categorised transaction in your business account so it will not double the amount of your business income.

     

    I've also added the following article if you want to know how to retrieve transactions before you connected your accounts: Add older transactions to QuickBooks Self-Employed.

     

    Please get back to me by clicking the Reply button below if you have further questions about handling transactions in QBSE. I'm always looking forward to helping you. Have a nice day!

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