Can I create a liability account in my quickbook self-employed account?

Hi there, Skmejoy.

QuickBooks Self-Employed (QBSE) only tracks income and expenses for Schedule C tax reporting it doesn't support creating liability accounts, asset accounts, or other account types.

However, you can still track liabilities or expenses indirectly by using the available Schedule C categories in QuickBooks Self-Employed by manually adding them.

Here's how:

1. Sign in to your QBSE account.
2. Go to the Transaction menu and select Add Transaction.
3. Enter the amount and a description.
4. Select the Select a category menu. Choose the best category to organise your transaction.
5. If you have a receipt, you can drag and drop it onto the form.
6. When you’re done, select Save.

After manually adding the transaction, you can then categorise it.

If you really need to set up liability accounts such as loans, taxes payable, or credit card liabilities, you'll want to upgrade to QuickBooks Online Simple Start or a higher plan, which includes a full chart of accounts.

If you need further assistance managing your QBSE account, please feel free to return to this thread at any time.