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SymingtonPhotographics
January 6, 2025
Question

Photography Studio Hire how to categorize?

  • January 6, 2025
  • 1 reply
  • 0 views

Thank you for your time. 

 

I am a new Photographer and new to Quickbook.

 

When I want to use a Studio I will hire it. 

 

I currently have the Studio Hire Transactions listed as 'Other Business Expense' but it falls under disallowed expenses even though it is strictly business related, I am unsure if it would be instead fall under Office Supplies. Any advice is appreciated. 

 

Thank you. 

1 reply

K
KayePe
January 6, 2025

Assisting you with your concerns is our task here in the Community, Symington. I have some useful insights that can help you understand how categorization works in QuickBooks Self-Employed (QBSE).

 

When categorizing transactions, it's essential to select the correct account category to maintain accurate financial records. For your Studio Hire Transactions, I highly recommend consulting your accountant or HMRC to ensure you choose a suitable category and record it correctly.

 

On the other hand, keep track of your estimated taxes in QBSE to know how much to pay each year or in quarterly. Here’s how:

 

  1. In Taxes and select Quarterly.
  2. From the Quarterly Taxes Summary, you can see the amount due for the quarter.
  3. From the Quarterly estimates, you'll find the annual estimated tax.

 

 

We’re here to provide guidance as you navigate this process, ensuring your transactions are categorized correctly. Together, we’ll make a strong foundation for your financial management.

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