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TaxReturnHell
July 16, 2024
Question

How to view the detail of which expenses have been categorised disallowable?

  • July 16, 2024
  • 1 reply
  • 0 views

Hey there, 

 

On viewing my tax summary, Quickbooks has categorised a large number of my expenses as disallowable - but I'm 99% sure almost all of them are allowable (my accountant certainly used to put them all through).

 

How can I view the list of which specific transactions have been marked disallowable by QB?

 

At the moment all I can see is a number (39) so I have no way of knowing which transactions are the problem ones... and therefore if it would help to recategorise these transactions. 

 

Thanks

1 reply

E
Erika_K
July 16, 2024

I appreciate the detailed information about your concern, TaxReturn. I'll shed some light about categorizing bank transactions in QuickBooks Self-Employed (QBSE). Let's work together to ensure you can recategorise your bank data.


QBSE automatically determines whether an expense is allowable based on your tax profile, so you don't have to adjust or classify them manually. In this case, you can run the Profit and Loss report to view the list of accounts associated with the transactions marked as disallowable. Then, you can click the amounts to review their breakdown and categories. I'll add an image for visual reference.

 

After ensuring everything is categorized accordingly yet the transactions still show as disallowable, I recommend performing troubleshooting procedures to determine if this is a browser-related issue. We can open your account using an incognito or private window to avoid unexpected software issues caused by web browser problems, such as a full cache or outdated internet files. This window does not retain internet data, providing a fresh browsing environment.

 

Refer to the following keyboard shortcuts based on your browser type: 

 

  • Google Chrome: Ctrl + Shift + N
  • Mozilla Firefox: Ctrl + Shift + P
  • Microsoft Edge: Ctrl + Shift + N
  • Safari: Command + Shift + N

If the private browsing session works, clear the browser's cache to allow the system to restart. Deleting the cache helps to refresh the system, allowing you to start fresh with a clean slate. This process can also done on supported and up-to-date web browsers recommended for optimal QuickBooks performance.

 

Additionally, you can check whether these discrepancies result from your Bank rules settings. This feature is designed to automate the categorization of transactions, which can significantly streamline your bookkeeping process. However, in some cases, this automation might lead to unexpected results.

I'm still all ears if you have additional questions about correcting your bank transactions classification in QBSE, TaxReturn. Please feel free to leave a comment if you have any specific inquiries, and I'll do my best to provide helpful guidance. I'm here to support you in ensuring your books are configured accurately within the QBSE.  

T
TaxReturnHellAuthor
July 19, 2024

Hi there, 

 

Thanks for your reply. I've followed your steps and clicked through the summary amount, and now I see all the transactions under that category, but I still can't see which ones are allowable and which ones are disallowable? Where exactly is this information recorded? Thanks 

G
GeorgiaC
July 19, 2024

Hi there, thanks for getting back in touch

 

Reports such as the P&L and Self-Assessment summary in QuickBooks Self-Employed allow you to click onto the line amounts to see a more detailed breakdown of the transactions included. 

 

This breakdown includes the category that the transaction is posted against (e.g. Business income). Our guide Allowable and disallowable expenses explained provides information about each category and what expenses can be deducted. 

 

If you need still need any guidance on any specific figure on your report, please get back in touch and we'll be happy to help! 

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