I have Quickbooks Self-Employed. How should I label a transferal of money from my business account to my wife's personal account? Business-transfer _ Personal-transfer?

I’m here to help you label the transactions correctly, @domingomachuca94. I’ll share some insights that’ll guide you.

QuickBooks Self-Employed is single-entry bookkeeping. Hence, we do not suggest mixing business and personal funds. No worries, I’ve got the steps to address your transfer concerns.

You'll want to categorize the transaction as Transfer in your QuickBooks Self-Employed (QBSE). This is used when you move money between your business and personal accounts. It has three categories: owner's deposit, owner's withdrawal, and credit card payment.

Since you transferred money from your business account to your wife’s personal account, which was made for personal purchases. You can use the owner’s withdrawal. If the purchase was for a business, select credit card payment.

For more details on categorizing money transfers in the QBSE, you can view this article.

Once done, we can now proceed to record the transactions.

1. Go to the Transactions menu and locate which one you want to categorize.
2. Click on either Business or Personal under Type.
3. Move to the Category and Tags column and look for Transfer in the search bar.
4. Click Transfer.

If you want to see all transactions tagged as Transfer, you can click the drop-down list for Type and then select Transfer.

I’d also recommend consulting your accountant if you want to know more tips on how to better record them. This way, we can make sure your books are accurate.

You can check out this article to avoid duplicate transactions. This will guide you through excluding or deleting transactions you don’t need.

I’ve also included our help articles for your reference.

Don’t hesitate to reply to this thread if you need further assistance in dealing with or categorizing your transactions. I’d be around to assist you. Have a great day!