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IracemaC
February 16, 2023
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Categorizing Bank transactions

  • February 16, 2023
  • 1 reply
  • 0 views

I have a withdrawal transaction from my business savings account for $5 from my business checking account. I have my business checking account link to my QBO so now this withdrawal is showing and I don't know where to deposit this withdrawal because I don't want to link the savings account since I am not planning to use it. The $5 dollars was withdrawal because it is the minimum amount the Savings account needs to have.

    Best answer by SME Bookkeeper

    Hello @IracemaC ,

     

    Thank you for writing here.

    After viewing your queries, I think you have transferred $5 from your Checking account to your savings account. And you don't want to feed your savings account with QBO.

     

    If it's that, then categorize that transaction under "Owners Draw ->Equity"

     

    For further bookkeeping, assistance check my bio.

     

    Thanks

    SME Bookkeeper

    1 reply

    SME Bookkeeper
    SME BookkeeperAnswer
    February 17, 2023

    Hello @IracemaC ,

     

    Thank you for writing here.

    After viewing your queries, I think you have transferred $5 from your Checking account to your savings account. And you don't want to feed your savings account with QBO.

     

    If it's that, then categorize that transaction under "Owners Draw ->Equity"

     

    For further bookkeeping, assistance check my bio.

     

    Thanks

    SME Bookkeeper

      AlcaeusF
      AlcaeusF
      March 13, 2023

      Hello, SME Bookkeeper.

       

      I appreciate you for always sharing your knowledge about QuickBooks. This will definitely help other users as well in the future. Please keep on posting here in the Community.

       

      Keep safe and have a great rest of the day.

        SME Bookkeeper
        SME Bookkeeper
        March 14, 2023

        Hi @AlcaeusF ,

        Thank you for your appreciation.
        But each step has an expectation. QuickBooks Community message option is required to acquire Small business owners to serve them better. Fulfill their bookkeeping obligations.
        So, please consider taking back that message option.

         

        Thanks.

         

        All the best

        @SME Bookkeeper 

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