Skip to main content
September 6, 2024
Question

As self employed, can I write a check to my personal checking account from the business account for the amount of car expense deduction?

  • September 6, 2024
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

September 7, 2024

Hello there, Carpediem. I am glad to share information about using a personal checking account for personal and business transactions in QuickBooks Online (QBO).

 

In QBO, it's not recommended to mix your business and personal expenditures. The accounts you link should be used solely for business-only purposes to avoid confusion when tracking your business's income and expenses.

 

Certainly! You can write a check to reimburse your personal checking account from the business account, which will affect the Owner's Equity account.

 

To do so, here's how:

 

  1. From the + New tab, select Check.
  2. If you're in the Business view, follow the steps to switch to the Accountant view first.
  3. Choose a bank account to use to reimburse the personal funds.
  4. Select the Owner's equity in the Category field.
  5. Enter the reimbursement amount.
  6. Click Save and close or Save and new.

 

To ensure the correct account is selected, I'd suggest consulting an accountant. If you don't have one, you can visit our Find a ProAdvisor website to choose an expert near you.

 

For more details, please see this article: Pay for Business Expenses with Personal Funds.

 

Additionally, I've got you this handy article about reconciling an account in QBO: Reconcile an account in QuickBooks Online.

 

Please don't hesitate to reach out on this thread if you need additional assistance writing a check. We're always here to help you out.