How to process my own payment for income tax

It's nice to have you here in the Community, @Fran100. I'll be happy to share some information about processing your payment for income tax and recording it in QuickBooks Online (QBO).

If you own the company or the business and you're earning any other type of income, you'll need to file a self assessment tax return in order to declare and pay taxes on your earnings to Her Majesty's Revenue and Customs (HMRC).For more information about Income Tax, feel free to HMRC.

In addition to that, you'll also want to check this article to understand more about income income tax: Understanding Income Tax.

Once you've paid your income tax, you can proceed to record it here in QBO. Here's how:

1. Go to Taxes and select Payments.
2. Select Record payment.
3. Fill in the required fields (bank account you're making the payment from, payment date and amount).
4. When you're ready, select Save. If you want to view the payment, find it in the list and select View.

You can visit this article for more information about handling tax payments in QuickBooks Online: Manage VAT payments in QuickBooks Online.

I'd also recommend reaching out to your accountant. This way, they can guide you on what account you should choose to record your income tax payment.

Additionally, here are some helpful articles you'll want to check out for future reference:

• The QuickBooks Self Assessment for Income Tax checklist.
• Customise reports in QuickBooks Online.

If there's anything else that you'd want me to help you with, don't hesitate to mention me below when you leave a reply. This way, I'll be notified and then I can see your response. Once again, it's my pleasure to have you here in the Community. Have a nice day and stay safe!