Quickbooks SELF EMPLOYED

1. Introduction to QuickBooks Self Employed

2. What is QuickBooks Self employed QuickBooks Self-Employed is a cloud-based accounting application specially designed for self-employed individuals such as freelancers, real estate agents, Uber drivers, and independent consultants. It lets you monitor income and expenses, track mileage to and from clients, and file your taxes with its QuickBooks Self-Employed Tax Bundle QuickBooks Self-Employed is a scaled-down version of QuickBooks Online that can help you automate and streamline your accounting processes.

3. QuickBooks Self-Employed Is Good For • Freelancers that need to track profit and expenses and file federal tax returns: With QuickBooks Cloud Accounting, you can categorize expenses and bill customers if needed. It also offers assisted tax filing features to help you file your federal and state tax returns easily. For other popular accounting options, read our guide to the best accounting software for freelancers. • Freelancers that need a mobile bookkeeping app: QuickBooks Self-Employed has its own mobile app that lets you create and send invoices, track business mileage, scan receipts, and categorize transactions imported from bank feeds. QuickBooks Self-Employed is our top pick for freelancers in our list of the best mobile accounting apps. • Businesses looking for easy-to-use software: QuickBooks Self-Employed uncluttered dashboard and intuitive navigation allow you to set up and use your account quickly. • Businesses that need to track mileage: If driving is part of your work or business, you can use QuickBooks Self-Employed to track business mileage automatically as well as potential tax deductions

4. QuickBooks Self-Employed Is Not a Good Fit For • Growing businesses: QuickBooks Self-Employed is built primarily for freelancers and independent contractors. Since it’s a single-entry accounting system, it cannot be rolled over to a double-entry accounting system, such as QuickBooks self employed. If you envision your business growing in the near future, you could start with the QuickBooks Online Essentials plan, which offers a more scalable option and the ability to add users. • Frequent invoicing: QuickBooks Self-Employed doesn’t store customer, product, or service information, so you have to add the recipient and sales information every time you create an invoice. If you need a powerful invoicing solution, check out our review of the best invoicing software. We ranked QuickBooks Online best overall because of its unique ability to calculate the sales tax rate automatically to apply to your invoice based on the location of your customer. • Entrepreneurs with more than one company: QuickBooks Small Business doesn’t allow for multiple companies, so a better option would be Wave, which we ranked as one of the best multicompany accounting software programs. Wave has the added benefit of being free forever. • Companies with many employees: QuickBooks Self-Employed has no built-in or integrated payroll processing system. If you need to pay employees, consider Sunrise, which seamlessly integrates with Gusto.

5. QuickBooks Self-Employed Features • Left menu bar: Navigate to each area of the program using the left menu bar. • Profit and loss: View total income and expenses for any timeframe you specify, such as this month, last month, this year, or last year. • Expenses: View your total expenses for a specified timeframe. • Accounts: View the current balance of all bank and credit card accounts. • Invoices: View customer invoices owed to you. • Mileage: View the total mileage recorded using the QuickBooks Self-Employed mileage tracker app. • Estimated taxes: Review the estimated taxes you owe, based on an automatic calculation performed by QuickBooks Self-Employed based on the income and expenses you have recorded.

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