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Sarahdag
October 19, 2019
Solved

QuickBooks Self Employed UK and iZettle Payments

  • October 19, 2019
  • 1 reply
  • 0 views

Hi, I can find the answer to this anywhere and would like to know the correct way to record iZettle payments to QuickBooks SELF EMPLOYED in the UK

 

iZettle does not connect to QuickBooks self employed so I'm guessing I have to enter the transactions manually, not a problem (although a lot of work)

 

is this correct?

Enter full amount charged to client eg, Client Vicky £160 as "business income", enter a new transaction named iZettle fees £2.60 as an expense? if this is correct I'm struggling to find what category from the drop down menu I class the iZettle fee as, could someone please advise?

 

The other option I have is to wait until the money hits my bank (this will be a mix of different transactions minus the iZettle fee), QuickBooks will auto pic this up from my bank account and I can just record it as "customer payments" under "business income" however it will not show a brake down of transactions and fees, is this acceptable to HMRC or do they need a brake down of all of this?

 

Thanks in advance for any help

Best answer by Ashleigh1

Hello Joesharps, 

 

Welcome to the community, 

 

Yes you are correct you are unable to add any apps like iZettle in Quickbooks Self-Employed you can only add apps like iZettle in our Small business products. 

1 reply

J
joesharps
June 3, 2020

I have the same question.  I too am using QB Self Employed and use iZettle but have found out that it doesn’t connect to QBSE only the full QB online. 

A
Ashleigh1Answer
June 3, 2020

Hello Joesharps, 

 

Welcome to the community, 

 

Yes you are correct you are unable to add any apps like iZettle in Quickbooks Self-Employed you can only add apps like iZettle in our Small business products. 

J
joesharps
June 16, 2020

Thank you.  Within the self-employed product - how do I account for the fees taken off by iZettle when an invoice has been paid in full but I only receive payment minus fees from iZettle into my linked bank account?

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