Categorising transactions in a business account - QB Self Employed

Thanks for providing details of your concern, Rachel. Yes, QuickBooks Self-Employed (QBSE) has the option to recognise these transactions as business. I'll share some insights about it and walk you through the process.

If you do business with the same customers or vendors and the transactions are usually the same, we can create bank rules so QuickBooks automatically categorises these types of transactions for you.

Here's how:

1. Open your QBSE account and go to the Gear ⚙ icon, then select Create rules.
2. Click on Create rule.
3. In the Description field, enter the customer or supplier you want to create the rule for. Tick the Match exactly box if you want QuickBooks to only use the rule when transactions match exactly.
4. From the Account dropdown menu, select the account you want transactions to go into.
5. From the Type dropdown, select Business.
6. If you want QuickBooks to categorise transactions, select the Category link and choose a category.
7. If you want the rule to apply to transactions you've already categorised, tick the Also apply to past transactions box.

To learn more about the process, check out this link: Create rules to speed up reviews in QuickBooks Self-Employed.

If you have downloaded transactions that don't apply to the rules, you can manually categorise them. This way, you can organise your income and expenses. 

In case you have other questions in mind, don't hesitate to leave a reply below. The Community team is always around to help.