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October 26, 2022
Question

I accidentally deposited a personal check into my business account. After I transfer the funds out, how do I account for it in QuickBooks online?

  • October 26, 2022
  • 1 reply
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1 reply

October 26, 2022

Hi there, @Cincygirl100.

 

You can use one of the default equity accounts to categorize your funds. Let's go ahead and discuss this process.

 

Creating a journal entry is the commonly used method to record transactions affecting your personal and business accounts. The concept is to use the Owner's Equity account as the detail type to use in recording these journal entries.

 

I'm adding this article to learn more about how to pay for business expenses with personal funds: How to Record Business Expenses made with Personal Funds in QuickBooks Online?.

 

However, I'd still recommend contacting your accountant for guidance in choosing the account category of your journal entry. They can also share the best accounting practice to follow considering the needs of your business and accounting books.

 

Use this link if you haven't found someone you can work with: QuickBooks Certified ProAdvisor.

 

You may also read all related references in this article to make sure every account register you have matches your bank and credit card statements: Use this Guide Anytime you need Help Doing or Fixing a Reconciliation.

 

If you have any other clarifications or follow-up questions about recording journal entries, please let me know by adding a comment below. I'll be here to lend a helping hand.