Skip to main content
K
Kellyoconnor
November 23, 2021
Question

Hi, I'm just setting up QB Self Employed and finding it difficult. Can I use this to back date my trading history so that I am compliant for year ending April 21? Why when I raise an invoice does it not show as business income for that tax year??

  • November 23, 2021
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

A
Ashleigh1
November 23, 2021

Hello Oconnor5home-out, 

 

Welcome to the Community page, 

 

So what you need to do is connect your bank up within your Quickbooks self employed account, once connected you would then need to csv the older transactions in so they appear in your account for you this link and this link will help you to do that. 

 

So in regard to your last question about the invoices when raised do not show on as business income for that tax year is because in the self employed quickbooks product the invoice section is only for your reference only, it is not linked to anything else in the account only the transactions in the banking section will relate to your tax summary section.  

K
KellyoconnorAuthor
November 23, 2021

Thanks for that, much appreciated.

Can I use Self Employed to do this or not, lots of my transactions are cash based and never hit my bank other than keeping my tax or VAT element aside? Will I have to create a new cash CSV file and import that too?

 

Would it be easier to start afresh with QB Online? does this have more functionality? Or will it make no difference from this point on?

 

Thanks again, Ben.

 

 

A
Ashleigh1
November 23, 2021

Your most welcome Ben, so quickbooks self employed you cant do TAX or VAT on it, it is only for customers that need to submit SELF ASSESSMENTS to HMRC. So if you need to do VAT/TAXES you would need to start a fresh and take out one of our quickbooks online accounts this link shows you the different products we have to offer. 

 

 

Terms & ConditionsAccessibility statement