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May 30, 2021
Question

transactions

  • May 30, 2021
  • 1 reply
  • 0 views

I have a question, in my list of transactions for review.  I have a deposit and then a withdrawal for the same amount.  This was money that came from me sub leasing an office suite where the other business owner took over my lease.  She paid me lets say 300 dollars.  The check was made out to my business.  However, here is my question.  When I went to deposit this money.  I was depositing it into my personal account that is not connected to QB Online.  However because she made the check out to my business, they deposited the money into my business account and then made a withdrawal from my business account for the same amount.  I'm new to QB and I'm not sure what to do with these two transactions, one for the deposit and one for the withdrawal, in my list of transactions for review.  Please any help would be greatly appreciated.  

1 reply

Rustler
June 1, 2021

The deposit is income received to the business
the transfer (withdrawal) from business to personal is equity drawing