That means that my road trip to Tulsa to cover an event for another website earned me more than $200 in deductions. In case you don’t know, the current rate is $0.575 per mile driven for business. While I don’t have a job that requires a lot of driving (my typical commute is the 20 feet from my bed to the next room where my home office is), Quickbooks Self-Employed opened my eyes to how lucrative tracking your business mileage can be. You can see for yourself how easy Quickbooks is to use in my video reviews below: Luckily that part is easy enough to take care of - but I do wish this didn’t happen in the first place. Obviously this could throw off your deduction calculations so it’s important to exclude those rogue clones. That’s because there have been a handful of instances where I’ve spotted duplicate transactions displaying in my expenses.
I will offer one word of warning, however, and that is that you may want to double check all of your business transactions even if they’re already categorized manually or via a rule. Honestly this was a feature that I haven’t made much use of just yet but it’s one I probably should start taking advantage of moving forward. This is achieved by simply taking a picture of said receipt or forwarding confirmation emails to Quickbooks from a linked email account. In fact, doing so on mobile provided an almost Tinder-like experience as you can swipe right to mark a purchase as “personal” and left for “business.” In either medium you can also set up rules so that future (and even existing) transactions of that nature will automatically be categorized for you.Īnother helpful element is the ability to attach digital copies of receipts to any transaction. You can either use the website or the app to go through your transactions. You can also split transaction amounts between personal and/or as many business categories as you want and in whatever manner you choose. Doing so will then allow you to go through all of your transactions - incoming and outgoing - and label them as “personal” or “business.” Furthermore, if it is business, you can select more specific categories that will come in handy when figuring out your tax deductions. This is accomplished by first linking your bank accounts and credit cards to Quickbooks.
To me, the most useful element of QBSE is the ability to keep track of all your transactions. Getting Started With Quickbooks - The Main Features
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