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March 16, 2021
Question

Adding a prior bank account

  • March 16, 2021
  • 1 reply
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My husband finally got a separate business checking and credit card back in March and also set up his quickbooks account at that time. I'm trying to do our tax info and was thinking it would be easier if I had all of his business transactions in one spot for the 2020 year. I know how imports work and could easily get a CSV file that only contains info from our personal account that he spend on the business in Jan and Feb 2020 but I guess I would still have to set up another banking account on here to add it to? I wouldnt want to confuse the banking numbers for his current accounts. Or should I link our personal so it auto-imports and then go through and exclude all non-business transactions? Has anyone ever done something similar or have any suggestions? Thanks!

1 reply

Rustler
March 16, 2021

Yes, set up a bank account called owners.

If you can get the transactions in an excel sheet, delete any entries that do not apply, delete the balances too
then import to the owners bank. Assign the expense accounts to each transaction too

then make a deposit to the owners bank in the total amount shown as a negative and use the owner equity investment account as the source account for the deposit