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June 26, 2022
Question

On UK Quickbooks Self Employed version where do I show my initial capital injection, e.g. cash injection, sale of car and purchase of new van?

  • June 26, 2022
  • 1 reply
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I have recently commenced as a sole trader in the UK and have set up UK version of Quickbooks Self Employed.

I have injected funds to my business to get it up and running, for example selling my personal car and purchasing a van for the business.

I am unsure where to show these initial injections to the business to get it up and running, i.e. effectively capital injections.

can anyone assist please

1 reply

June 26, 2022

Thank you for joining the Community, Winnie60.

 

I'm here to share insights about managing business transactions in QuickBooks Self-Employed.

 

QuickBooks Self-Employed is ideal for freelancers and independent contractors who needs to track income, expenses, mileage, and tax information.

 

That said, if you need to enter business transactions such as capital investments into QuickBooks Self-Employed. You just need to connect your bank and credit accounts to track and categorise them easily.

 

To connect an online bank or credit card account:

 

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

 

Once you've connected your accounts and downloaded your recent bank transactions, you can check out this article to learn how you can categorise transactions in QuickBooks Self-Employed.

 

Also, you can manually add your business transactions if it didn't go through your bank. Visit this link for more details: Manually add transactions in QuickBooks Self-Employed.

 

Your always welcome to leave a comment or post other questions regarding QuickBooks Self-Employed. I'll be here to help. Have a great day!