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

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emmam6
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Hello Community Users, We just wanted to pop in and add some clarification to this thread. Quickbooks Self Employed runs on a cash basis. It does not have the option to claim VAT on purchases or add it to invoices.

For VAT registered businesses we do have Simple Start Quickbooks Online.

If you are wanting to record business purchases, that you are claiming for, in Quickbooks Self Employed  they would be allowable expenses(if you can't claim for them they would go under allowable) You can record the  parking fee as an allowable expense, you would just need to use the appropriate category so that it would move to the allowable expense box for travel costs.

If you want to record equipment such as a laptop then you can look at whether you can claim using capital allowance, more info on that can be found at HMRC website

However we'd recommend speaking to an accountant or HMRC about whether you can claim capital allowance or whether you need to claim under allowable expenses. 

 

 

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