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Anonymous24673
January 26, 2022
Question

Leaving Personal Transactions Unreviewed

  • January 26, 2022
  • 1 reply
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I’m using QBO. I’m a sole proprietor but I didn’t find out about QBSE until way later and I don’t really want to make the switch. What happens if I just leave personal transactions, that don’t have to do with my business, unreviewed? Does it matter? Should I just exclude everything that isn’t business income or an expense?

1 reply

LieraMarie_A
LieraMarie_A
January 26, 2022

Hi there, @Anonymous24673. Let me share some insights about deleting transactions.

 

Yes, you can exclude everything that isn't part of your financial reports. However, it’s best to add these personal transactions to QuickBooks, rather than exclude them. Otherwise, your bank account in QuickBooks won’t match your bank statement when you reconcile it.

 

Many business owners add personal transactions to an equity account. You can check out the following articles for information about owners or partners mixing business and personal funds:

 

Please come back if you need more help in recording these transactions. I'd be happy to assist. 

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