Skip to main content
M
MelroseGardens
March 28, 2023
Question

Accidental deposit of a personal check to my Quickbooks Online business account

  • March 28, 2023
  • 1 reply
  • 0 views

I have personal checks that were not supposed to be deposited into my business account on Quickbooks. I have since transferred the amount of each of those checks to an external personal account (one not linked to Quickbooks). How do I categorize or fix the original check deposits made in error that are listed in my "Transactions for Review" but do not show up in my business bank register?

1 reply

N
Neiva Silva
March 28, 2023

Since they did go through the bank, I would categorize them as owner investment and owner withdraw, and make notes to remember that was a mistake.  curious to see if anyone has a better solution. 

Good luck!

G
GebelAlainaM
March 28, 2023

Let's start fixing the original check deposits made in error in QuickBooks Online (QBO), Melrose.

 

We can utilize the Transfer feature to move the funds to the correct account or personal account in QuickBooks Online (QBO).

 

Here's how:

 

  1. Click + New and select Transfer.
  2. From the Transfer Funds From drop-down list, select the business account.
  3.  Select the Personal Account from the Transfer Funds To drop-down list.
  4. Enter the amount transferred in the Transfer Amount field.
  5. Edit the Date.
  6. Add a description of the transfer in the Memo field, although this is optional.
  7. Then select Save and close.

 

Please refer to this article for more details: Transfer funds between accounts.

 

On the other hand, to fix the original check deposits made in error in the For Review tab, you can exclude them.

 

Upon sharing this, I still suggest consulting with your accountant or a QuickBooks Certified ProAdvisor. They might have specific instructions on how to handle this matter.

 

I've also added the following article for future reference:

 

 

Stay in touch with us if there's anything else we can help you with, especially in managing your deposits in QBO. Have a good one!

M
MelroseGardensAuthor
March 29, 2023

Thanks for the response! Since I already transferred the amount of each check deposited in error into an external personal account, do I still need to go through the steps listed below for recording a Transfer? Either way, how should I categorize the transfers I made to my personal account when looking at them in "Transactions for Review"?

 

The personal account I transferred to is not connected to my Quickbooks business account and I was hoping to NOT connect this personal account with Quickbooks. It appears as listed in the steps below that I would have to connect my personal account to Quickbooks if I want to properly record the transfers. Is that correct or is there another way to go about it without connecting my personal account with Quickbooks?

 

If I go ahead and Exclude all the check deposits made in error, will those still show up when I go to reconcile my books or will they be erased from my business account?

 

Thank you,

Melrose Gardens

Terms & ConditionsAccessibility statement