QuickBooks Self-Employed - Complete Tutorial
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- เผยแพร่เมื่อ 30 ก.ค. 2024
- QuickBooks 30-day free trial + 30% off for 12 months:
quickbooks.intuit.com/partner...
(30% discount offer to expire 9/30/2021)
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Topics contained in this video:
00:00:00 Intro to QuickBooks Self-Employed Account (link)
00:02:36 - QuickBooks Self-Employed website account (home, transactions, miles, taxes, reports, invoices)
00:05:23 - Gear button and all his features (transactions, taxes, about you)
00:05:34 - Bank accounts (connect your bank and credit cards)
00:05:40 - Import transactions (manually)
00:05:53 - Rules (transactions rules) (create rule)
00:06:07 - Receipt forwarding
00:06:30 - Tax profile
00:06:52 - Vehicle info
00:07:00 - Healthcare profile
00:07:33 - About you (profile, accountant invitation, cancel trial, sign out)
00:08:52 - How to connect your bank and credit card to QuickBooks Self-Employed
00:11:03 - Categorize transactions
00:12:59 - How to add rules (how to create rule)
00:14:44 - Edit rule
00:17:16 - Batch transactions (select and categorize them)
00:24:52 - Go back to home and see your profit and loss and expenses
00:25:35 - Invoices (How to create an invoice)
00:28:56 - Reports (profit and loss report)
00:29:40 - Tax summary
00:30:17 - Tax details (excel)
00:31:36 - Taxes (Q1, Q2, Q3, Q4) Quarterly taxes and how it works
00:33:57 - Miles (configure your car) (turn on auto-tracking) or add a trip manually button and how it works
00:35:25 - Transactions (how to exclude transaction, add more notes, receipt option)
00:36:40 - Phone app and how it works (all features)
00:44:09 - Choose your QuickBooks Online plan
Call our office 954-414-1524 to setup a private training/consultation about QuickBooks, Excel, Accounting/Bookkeeping, Taxes, and/or General Business Consulting (rates vary fro $250 to $525) for first consultation depending on length and consultant required. E-mail Hector your questions hector@garciacpa.com
To setup a 30-day free trial of QuickBooks Online and then a 30% www.quickbooksoffer.com/?cid=i... - วิทยาศาสตร์และเทคโนโลยี
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Hey Hector for the past year I've been using Quickbooks online for my business " Residental Contractong" to record my business expenses and income... my LLC is a partnership with my brother-in-law who also participates fully everyday in the business with a 50% interest in the business 50%/50% between the two of us.. now my question is should we be using Self employeed? Since we have no employees other than the two of us? Or should we keep using online?
This has been SO useful! Thank you from the UK - ready to get started with it now!
Thank you Hector. Great video and I also appreciate the overview on the different products.
Thank you so much, Hector! I will be sharing this tutorial with all of my clients that use QBSE!
As usual.....so very helpful and concise! Thank you, Hector!
Thank you for the overview of QuickBooks Self-Employed. I found this information very useful and your presentation was clear and easy to follow. I will enroll in the service.
Brilliant! Thank you from the UK. I tried to find training videos from the Quickbooks website but there were too many and I didn't know where to start. I have watched your tutorial. It was so simple and informative and has given me the confidence to be able to set things up myself. I will now go ahead and purchase Quickbooks :)
:)
Thanks Hector, I appreciate you covering the Self-Employed version since I'm a sole proprietor and get QBSE for free with TurboTax Self-Employed. It really does pretty much everything I need, even if it doesn't have the bells and whistles.
Bomb ass video my brother. I loved the meticulous detail you put into explaining both the desktop and mobile view. Great info!
Thanks
Thanks for making this video! It's so much better to hear from a tax professional such as CPA
You welcome
Thank you for this tutorial. Great introduction to Quickbooks and what it can do for me.
Thanks, glad you liked it
I really liked this tutorial! Your presentation got me excited to learn qbse instead of dreading my bookkeeping! One thing you didn't cover was the "split" option for transactions. It seems self explanatory, but was just curious if there's more to it than meets the eye....thanks Hector!
Caitlin Lange split is when one expenditure is split into multiple catergories or part of it is personal vs. business
Very well done, easy to follow, specifically defined for the self employed individual who wants to keep track rather than a balance sheet style regular accounting system.
Awesome, glad you liked it
Thanks for doing this video. I downloaded the phone version, but haven't been fully utilizing it. I didn't know why income wasn't showing up on the app. I hadn't linked up my bank accounts and now I see that it's a good idea.
This is a great video!! very helpful to understand the basics of the Self-Employed version. Thank you Hector
:)
Hector, you are great man, thank you so much for the video!!
This was very helpful. Now I'm going to log back in and see if I can reset everything from scratch, now that you've shown how to do it right.
Scott Simpson great, good luck
Good job, Hector. This was super helpful.
You welcome
Great video. I'm a rank beginner and appreciate the attention to detail. In the end you mentioned other versions you can buy. I would love to hear about those and the differences.
Here th-cam.com/video/k-MbactsSz8/w-d-xo.html
Thank you for such a detailed and clear video. Good job
Paul Varghese you welcome
You are the best, Hector!! :)
Awesome dude, THANKS ! Great app. I use to use QB Pro but its was so bulky. Downloaded Self employed a couple months ago but hadn't got in to the guts of it until this tutorial. Very streamlined app and very clear and effective tutorial.
Awesome!
This was EXTREMELY helpful!!!!! THANK YOU!
You welcome.
Thank you! You answered my question in the first minute.
:)
You have answered many questions I had! Thank you!
Great
Very well explained. Thank you!
You welcome
you explain so well. thank you
You welcome
Hi Hector. Great video. I found it really informational, to the point. yet comprehensive of the QB Self-Employed software/phone app. Technology is amazing. I guess I would like to see more info. on SE taxes - federal & state, calculations, etc. but that might be a different software, as you mentioned the software estimates might not be reliable and you recommend talking to a tax professional. Thanks for making this!
You welcome
Well organized and done simply/thoroughly
Douglas Macauley thank you.
Love to hear you explain it. Can you do a video with 2 types of income - W2 and Side Business income. (W2 & Schedule C )
Miracle Love that May take a while, was not planning it... I’ll add it to my list
Very nice intro. Thank you!
You welcome
Thank you Hector, for an informative video that was easy to understand. The features look great.
A few questions:
1. When you mark an invoice as paid, can you send confirmation of that to your client/customer automatically?
2. Can you write up an estimate that looks just like an invoice and email that to you customer.
3. If you have multiple unpaid invoices from a customer, can you make it send out a statement listing them?
4. Can you then edit the estimate and change it to an invoice?
5. Can you configure the invoice with company logo and letterhead you design?
If it can do all of that, I think it can do all that I need.
You can do all that with regular QB Online.. not the self-employed edition
Thank you. Very helpful
This is fantastic! Thank you so much.
45andSingle you welcome
So helpful, thank you!
Shelley Dennis you welcome
Thank you for your time and help.
You welcome
Yes, use the link on the screen
how to integrate quickbooks with amazon?
my hero thank you!
Very good video, Thank you. They have a new section for Home Office Expenses. Will you have a video with the updated?
N. D. Probably.. I’ll put it on the list.
Great video thanks !
Krysten Lopez you welcome:
I wanted to hear about using in conjunction with Turbotax to pay employment taxes in addition to income taxes. QSE advertises ability to calculate self employment taxes too.
Kodak54 yes it can... I have not paid taxes via QBSe, just calculated it
Thanks so much for posting this video! It's very informative, and I got started on QB Self-Employed immediately. I pay myself every two weeks from my business account. How do I categorize that? Is it a transfer since I move the funds from my business account to personal?
Distributions or Owners pay
your 46 minute tutorial is very useful, and thanks for a very thorough drive thru. I haven't looked at any great length, but is there a similar tutorial for the UK customers? I don't imagine that the usage of the Self Employed piece is much different from the US version, however our taxation is completely different for the UK. So I wondered if there is a UK version of this tutorial?
I don’t know... I am not familiar with UK versions
how can I add the transactions manually without connecting my accounts?
Thank you so much for the wonderful video! It is now Sept 2022. Am I able to add Jan - Sept 2022 at once to Quick Books Self Employed? Thank you!
Thanks for videos I've been watch many of your videos, very helpful. I work a full time job but all do resale online. I think qbse would be best for me. I have followed your link but can't seem to find it for 50%off for year. Is it no longer available?
Also with this program do I enter pay from my job also or just self employed part?
love your videos......I've been playing with trial run of simple start for a couple months.. .I've learned alot and made a lot of mistakes. after seeing this video I believe self employed more suits my needs. can I switch and can I start over from scratch so I can fix all my learning mistakes?
Gotta start from scratch
Excellent video, thank you. Question, I use QB Plus, do I still need QB Self Employed to file quarterly taxes?
Thank you!
You welcome
I am not sure if you will answer this one. but how in the world do you setup sales tax with this program?
Thanks for a great walkthrough. Is it possible to use this QBSE for job costing so I can know profitability of individual projects?
No... for Job Costing you need QBO plus
So if I write a check to myself on my small business I put it down as personal. correct?
hey hector, thank you for the information, I want to practice using quicks book online as a student. Can our bank data extract if I don't have business account?
Hi, Thanks for the video. I am trying to go back to 2016. Can I import banking transactions with an excel spreadsheet downloaded from bank? If yes, how? Thanks!
Great video! I have a question about purchases and returns on the credit card statement. Let's say you buy a pen for $1 for your business, then you return it. On your statement the transaction will appear twice - once as a purchase and once as a return to the vendor (crediting the $1 back to you). Do you classify both transactions and how?
You'll need to either exclude or categorize both as personal.
Good tutorial. Was wondering if you know if it's possible to set up a recurring invoice for someone from Self-Employed so that they can insert their CC information. So far, the only way I could see to do it is to ask the client for their CC info and then create the profile on my side. Seems backwards of how it's set up in the small business version. Thanks!
Can I still use self employed even though I am a corporation? Why would I need simple start? I like the simplicity of self employed. Can you explain the differences? Do you offer private lessons?
How do you change a date on a transaction/feed from your bank that came in from a previous month? For example, an income deposit for April that posted on 3/28.
Hola buenas noches, tienes algún video en español para la versión de Self Employed? Recién instaló la aplicación estoy con Grubhub pero no tengo idea de cómo usarla, gracias de antemano a cualquier respuesta!
How can I change the 'split' transaction from % to dollar amount?
Hi, important question. If I use the quickbooks self-employed app and categorized and noted all my debit/credit transactions so that it includes information on the date of transaction, the payee, the business expense and exactly what item(s) was paid for, would showing the irs all the transactions on the quickbooks app be sufficient for proof of receipts in the event that I get audited?
Hello Hector, great, video 👍. Question, can we create our own category?
No
Hey appriciated the video, I found that helpful. Will you make a video relates to use quick book to fill up the self employed tax return on HMRC website?
I don’t know what HMRC is
@@HectorGarciaCPA really? Her Majesty's Revenue and Customs (HMRC) is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support and the administration of other regulatory regimes including the national minimum wage.
忘羡大叔 I see.. I know work with US
Can you update this review video, now they have Self-employed with turbotax?
Hello Hector, I am from BBL and watched this video because my first client is using QBOSE. Her bank feed brings in the PayPal and Stripe deposits less the merchant fee. I cant seem to change the dollar amounts from the bank feed to reflect the actual Income and then book the merchant fees separately in other business expense. What would you suggest I do? Can I do a transaction to negate the bank feed then add a transaction to reflect the income? Example PayPal deposit from bank feed is $95. What was invoiced was $100. The difference is the $5 dollar merchant fee. Should I do a -$95 then add in the $100 and book the merchant fee to other business expense. Last year the bookkeeper booked the $95 and the $5 which understated income and overstated expenses. Please advise. Thank you, Kim
Thank you, Hector, for the tutorial! I have a home based business, but I also do contract labor that I am paid through my LLC. Can I still do the Self-Employed quick books? I do track my expenses for this contract labor to use for tax purposes. I appreciate your help!
Yes.. but you can’t do the 1099s from QBSE
Can you do a 2019 update. I need to pay my DoorDash and uber quarterly taxes!
There is no 2019 update... technically should be much of a difference
Hector the Link to purchase qb self employed is broken. Any chance you could repair or create a new one?
I connected my bank account and the transactions are not detailed... When I imported the file I had to edit the excel to get it to show the details correctly. How do I get it to show the details of the transactions with the bank account connected?
thank you for that video, very helpful. I've connected with my banking but do I also connect quickbooks to my Spark business credit card and the information automatically comes through to quickbooks? If so, how? Thanks again
You just follow the prompt.. not sure what your question is
A Quickbooks chat agent said the best version for me would be the Essentials. After watching your video I didn't even know self-employed was a version. I have a self employed business with a checkings account, would you say I'll be better off downgrading to self employed rather than Essentials? Thank you for your videos!
fabiandjm I don’t really like SE, but I don’t have enough info about your business to make such a determination.
I'm curious about your comment that QBSE should just be considered an extra thing. If my client files SE taxes for a single member LLC, this seems perfect because it provides all the tax info that would be really helpful for doing taxes. That was basically the only motivation for keeping track of finances (although it shouldn't be) But if your cash flow is always good, maybe you don't care as much about up to date financial records.
One thing that is never mentioned is reconciliation of accounts. Is this just done by filtering transactions for account and making sure they are all in there and there are no duplicates? If you don't have a balance sheet or chart of accounts with ledgers you can't get a balance for any particular account. And obviously, there is no reconciliation of accounts in QBSE because no one ever mentions it.
Hector, I've made so many mistakes on my previous QuickBooks accounts that today I am setting up a new one. But I have a question to which I could not find an answer anywhere online. My question is: Is there a way of solely importing the transactions (bank/credit card) from today on (instead of also importing the ones from when I still had the old QuickBooks account)? It would mean so much if you could answer this question! Anyway, you are the best! Thank you!
Gabriella Bonfim Moraes yes, you connect the bank, it will ask you for the start date.
Thank you
you welcome
i am a small business. i use my business account to make personal purchases . i know i shouldn't. should i switch to the self employed version?
I need help as a newbie. If I use a credit card to pay my office supplies and inventory, when I make a lump credit card payments, how do I track credit card payments as some is office expenses and some is for meals or travel expense???
Love this! Anyone know how to catergory a Amazon business order (expense ) that the seller refunded back to me. Would this be "business income" now or is that gonna get me somehow taxed on it as income?
An excellent tutorial. One thing I've come up against is not having an email address for clients. So when I try to save an invoice the programme says incomplete field. I haven't actually started using Quickbooks for real, I'm still playing around with it.
Uncheck the Send Later checkbox
Hi Hector! I have clients that pre-pay with a retainer. I’d like to send them a receipt to show how much has been spent of the retainer even if they still have that credit remaining. It keeps giving me an error that amount can’t be less than 0. I want to show my client he still has $600 left of his retainer of $1,000. How do I do this?
i have a single member LLC I am my only employee which version should i use?
When you have “paid”your self what category is that?
When you categorize a transaction as "TRANSFER", does it change any amount for your deduction, or profit and loss?
No, transfer does balance sheet transactions only
Does anyone know why I don't have the option to invite my accountant in the gear/settings menu? 7:50 on this video..
You may need to call support
Thank you for the video I kind of understand it a little bit more, but how can I categorize and monthly premium collected from a client and then is debited from my account from the insurance carrier?
That is very specific, we can setup a Private consultation for that
how do i collect the payment in quickbooks self employed why is quick books and my self employed not syncing up
There are two different programs
Ok I'm gonna cancel smple start and start self employed...what are my steps to do this? Do I need to start a new email? I have bank account and PayPal attached to simple start. Does PayPal work same on elf employed? PayPal is 90% o m business.
Do you have a video on sole proprietorship. I’m basically trying to figure out how to pay irs?
No
As a self employed business is it possible I can set up quick books to deposit money to me through by business but set up to we’re it takes 15.3 percent each deposit to keep up with the quarterly pay
Would you explain the "split" option for categorizing bank entries?
Rosa Thomas is to enter more than one category for one transactions
I have an LLC s Corp but I'm self employed
Can we use QBO self employed for rental (2 units)?
How do categorize items I purchase to resale?.....no COGS..
excellent,
Gracias
What if you want to start Self-Employed on Jan 1st 2020 and your bank accounts import transactions before that date? Should you just select and delete them?
Delete them
My local government Credit Union doesnt accept use of this with them....any other options for me? i am not allowed to link the two. what other choices or options do you offer for me using quickbooks which im liking very much?
Change banks.
Will this give me my quarterly gst (general sales tax) breakdown?
Which version of quick books would you recommend for a photographer with a studio
Incorporated or with an LLC?
How can I classify my husband's paycheck I write for him every 2 weeks? I just start with QBSE about 2 month ago.
Probably a distribution (not an expense)
Hector, how do you link the invoices to the transactions (deposit)
How can I add Tab on the left column along with home, transactions, miles etc...?
I don’t know