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ShawnT
July 5, 2022
Question

How do I categorize personal Zelle tranfers from my wife's bank to my account? They're not business transactions.

  • July 5, 2022
  • 2 replies
  • 0 views

My wife and I have separate bank accounts.  She occasionally Zelles me money.  How should I account for these personal transfers in Quickbooks?  Are they condsidered income? 

 

2 replies

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SashaMC
July 5, 2022

Hey ShawnT,

 

Thank you for reaching out to the QuickBooks Community! For this scenario, we normally recommend that you reach out to your accountant to see what would be the best fit for your business. If you don't have an accountant, no worries! We offer a ProAdvisor program. Simply enter your zip code and you will connect with experts around your area. They even offer a free consultation! Here's how:

 

  1.  Go to this Find my Accountant link.
  2.  In the Find an expert in section, choose what you're looking for, then use your search field to enter a City or ZIP code.
  3.  Select Search.
  4.  Browse through the results and find one that works best for your business. You can click on each ProAdvisor's profile to learn more information about them.

 

If you have any other questions, I'm just a post away. Have a wonderful day!

S
ShawnTAuthor
July 5, 2022

Thank you for the response, but I don't think I need an accountant to sort this out.  I am a very small one-man operation.  I sell through eBay.  I just want to know how to categorize Zelle transfers from my wife's personal account to my personal account in Quickbooks.  I don't have a dedicated business bank account, only the one personal account that I use for everything.  My wife sends me money to pay bills, etc. and it has nothing to do with the business.  I just want to know how to record that money in as something that isn't business income.

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Alexbatista1
September 13, 2022

Hi.

Just wondering if you have found a solution.

Cheers.

N
Natalie01
July 25, 2024

Hi ShawnT,

 

First off, I am not a CPA . You may want to confirm with your CPA.

 

You can select it as a transfer to Owner's Pay & Personal Expense so it is not included as revenue but, but this only works if you do the same for the personal expenses you have used it for. 

 

If you use it to pay for something for the business. It would be Owner's Investment. You may have to add a journal entry to account for the investment and business expense.

 

Or create a special income account for when she sends you money and then you can create a customized profit and loss that does not include this account.

 

If you have an LLC, using a personal account is a liability. You do not have protection if someone were to sue your business since everything is co-mingled.

 

Hope this helps.

N

 

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