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Everything you need to know about connecting your bank and credit cards in QuickBooks Online

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Replying to:
ChristineJoieR
QuickBooks Team

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It's good to see you here, @jenp22.

 

I'm here to share some information about categorizing allowable expenses in QuickBooks Self-Employed.

 

QBSE automatically assesses whether or not an expense is permissible. You won't have to manually update or label them.

 

The SA103F categories that were tagged as allowable are expenses that can be deducted from your taxable profit. However, disallowable expenses are transactions that can't be deducted from your business income. For more details, you can check out this helpful article: About SA103F Categories.

 

For more tips on managing your expenses in QuickBooks Self-Employed, I encourage reading this article:

 

 

Additionally, you can consult your accountant or advisor if you have questions. Check the HMRC website for the current flat rate deduction amounts and examples.

 

I'll be here if you have follow-up concerns about this or should you need anything else, @jenp22. Have a good day.

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