Learn how to connect your Coinbase cryptocurrency. This is part of QuickBooks Labs.
Do you use Coinbase to buy and sell cryptocurrency? You can import these transactions to QuickBooks Self-Employed so all of your accounting is in one place.Note: Thisfeature is currently only available in QuickBooks Self-Employed Labs to test users.
Connect your Coinbase account
- Sign in to QuickBooks Self-Employed.
- Select theprofile ⚙ icon. Then selectLabs.
- Go to the Coinbase sectionand select Turn It On.
- Follow the steps to connect your account.
After you connect, QuickBooks will download your cryptocurrency transactions. You'll need to review and categorize them.
Important: Fortax purposes, Coinbase transactions come in as Personal only. You can't change them to Business. IRS regulations with cryptocurrency can be complicated. Reach out to an accounting professional if you need help understanding the tax implications of cryptocurrency transactions.
Managing your Coinbase transactions
To see all of your Coinbase transactions, go to theTransactions menu. Sort the transactions using the filters tojustsee your cryptocurrency.
If you want to hide specific coin wallets, select theprofile ⚙ icon and theBank Accounts. You can turn connections on and off.
FAQs
Add a new account
Go to Settings ⚙ and select Chart of accounts (Take me there). Select New. Enter an Account name. Select an Account type, then select the Detail type from the dropdown.
How do I add a self-employed account in QuickBooks? ›
Add a new account
Go to Settings ⚙ and select Chart of accounts (Take me there). Select New. Enter an Account name. Select an Account type, then select the Detail type from the dropdown.
Can you do a direct deposit from QuickBooks Self-Employed? ›
If you use QuickBooks Online and QuickBooks Online Payroll, you can send direct deposits to your independent contractors for their work. With QuickBooks Online Payroll, you can keep all your W-9 contractors' info in one place. This makes paying them easy.
How do I import transactions into QuickBooks Self-Employed? ›
Step 3: Import the transactions
- Open QuickBooks Self-Employed in a web browser.
- Select Settings ⚙.
- Select Imports.
- Select Import older transactions for the account you want to add transactions to.
- Select Browse and find the file you downloaded from your bank. ...
- Select the file and select Open to start the import.
Here's how:
- Go to Settings ⚙, then select Chart of accounts (Take me there).
- Select New.
- In the Account name field, enter the name of the account.
- In the Account type ▼ dropdown, select Fixed Assets or Other Assets.
- In the Detail type ▼ dropdown, select the option that closely describes the asset.
Designed for your self-employed business. Custom-built for your business of one. QuickBooks Solopreneur features easy-to-use tools to help you drive growth and financial stability.
How do I record self-employed income in QuickBooks? ›
On an Android phone or tablet
- Select the menu ☰ icon and then select Transactions.
- Tap the Plus (+) icon.
- Select Add income manually or Add expense manually.
- Fill out the details.
- If you're entering an expense, select Category. ...
- If you want to add a receipt, tap Attach receipt.
- When you're done, select Save.
Learn how to deposit customer payments into your bank account in minutes. QuickBooks Self-Employed Payments allows you to send invoices with a pay now link and accept online credit card payments.
Can you set up direct deposit if you are self-employed? ›
As for how you want to pay yourself, it's up to you. You can write yourself a physical check and then deposit it into your personal bank account or set up a recurring payment via direct deposit. Although there's nothing wrong with good ol' cash, the first two options are probably more convenient.
How fast does QuickBooks Self-Employed deposit? ›
QuickBooks Payments deposit time frame
We deposit your funds within five business days after your first payment. Your first few deposits take a bit longer while we set up your merchant account. After we're done, your payments will deposit quicker, typically within two business days.
Attach receipts to existing transactions in QuickBooks
Go to the Transactions menu. If you're on an Android phone or tablet, select the menu ☰ icon and then Transactions. Find and select the transaction you want to attach the receipt to. Drag or drop your receipt or click browse to select an image.
How do I export data from QuickBooks Self-Employed? ›
Go to Reports. Here you can choose to download your profit and loss report, receipts that you've collected for your business, tax summary, and tax details. For each of these reports, choose the period you want to export the data for using the filter. Then, select Download.
How do I sync Square with QuickBooks Self-Employed? ›
- Sign in to QuickBooks Online.
- Search Connect to Square in Find apps.
- Select Get app now.
- Select Get started.
- Select Give permission.
- Sign in to Square, then select the Square locations you want to sync.
- Select the bank account you want to deposit to, then select Next.
Learn how to add to or remove your accountant in QuickBooks Self-Employed. You can give your accountant access to your QuickBooks Self-Employed company file and accounting info. This lets them review your books and make corrections as needed.
Can you get a balance sheet on QuickBooks Self-Employed? ›
You may have revenue and business expenses that run through your P&L, and that's what QuickBooks Self-Employed is tracking. But they're not tracking your cash balances, or your asset and liability balances. There is no Balance Sheet to be found anywhere within QuickBooks Self-Employed.
Can you have multiple QuickBooks Self-Employed accounts? ›
QuickBooks Self-Employed is designed primarily for individuals who have one business. However, if you have two separate business entities, it's generally recommended to maintain separate QuickBooks Self-Employed accounts for each entity.
How do I categorize self-employed in QuickBooks? ›
Categorize a transaction
- Go to the Transactions menu.
- Find a transaction on the list.
- Select Business if the transaction was for business, or select Personal for personal. ...
- Review the category in the Category column. ...
- If you need to change the category, select the category link. ...
- When you're done, select Save.
Sign in to QuickBooks Online as a primary admin. Select Settings ⚙, then select Manage users. Select the Accountants or Accounting firms tab. Enter your accountant's email address, then select Invite.
How do I add accounts to QuickBooks? ›
QuickBooks Desktop for Windows
- Go to the Lists menu, then select Chart of Accounts.
- From the Account ▼dropdown, select New.
- Select an account type, then select Continue.
- Enter the account details.
- Select the Subaccount of checkbox.
- From the Subaccount of ▼dropdown, select the parent account.
- Select Save & Close.
