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May 1, 2021
Question

If I deposit personal funds into my business account, how do I account for this transaction in QB? I needed a local cashiers check, it was a pass thru transaction.

  • May 1, 2021
  • 1 reply
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It was not income and was an in and out transaction

1 reply

May 2, 2021

I’ve got you covered, @isandlm.


QuickBooks Online offers a way to account deposits from personal funds to a business account. You can record it as an owner's contribution or capital investment so you can track the amount. 


Before you can record a capital investment, you need to set up an equity account. Here’s how you do it:

 

  1. Go to the Gear icon, then select Chart of Accounts.
  2. Click New.
  3. From the Account Type ▼ drop-down, select Equity.
  4. From the Detail Type ▼ drop-down, select Owner's Equity or Partner's Equity depending on your situation.
  5. Press Save and Close.


Once done, you can use this guide to record any investments you added to the business for complete instructions.


I’ve also attached this reference to categorize and match online bank transactions in QBO. This makes sure everything is accurate and in the correct accounts.


Don’t hesitate to leave a message below if you need further assistance with banking. I’ll be here anytime to help you out. Have a good one!