What is the difference between recording a transcation as "Transfer to Owner's Pay" and choosing Categorize>Expense>Owner's Pay?

Hi there, MJFC.

The Transfer to Owner's Pay is an option wherein the transaction is put in directly on the account, whether it's an expense or income. However, when you move it under expense before hitting the Owner's Pay account, the program will count the item as an Expense one.

In this case, I'd recommend reaching out to your accountant for further assistance. They can ensure that the transaction will be recorded correctly according to your needs. Thus, it keeps your bank transaction accurate and prevent messing up your data.

If you don't have an accountant yet, you may want to use this link to find one: https://quickbooks.intuit.com/find-an-accountant.

From time to time, you can visit these articles to gather more details when reconciling accounts in QBO:

• Get bank statements directly from your bank when you reconcile
• Fix mistakes on your bank or credit card statement

Please stay in touch if you have other questions in regards to this or anything about QuickBooks.