I Have connected to bank but on transactions i have deposits from my employer as i have a job outside my business. what do i do with them?

Delighted to have you here, @sjrqualitypainti.

The best tip is to separate your personal money from your business bank. As of the moment, in QuickBooks Online you can record this as a new account in your Chart of Accounts as an Equity or an Asset. I’ll guide you through the steps.

Here’s how:
 

1. Go through the Hamburger icon and choose Accounting.
2. Select Chart of Accounts and click on New tab to create a new account.
3. On the Account Type section, choose either Equity or Asset.
4. On the Detail Type, choose on which type you wanted to record your Employer’s Deposits.
5. Personalize the Name of the account so that you can easily allocate the transaction on this new account.
6. Click Save and Close.

Using a business checking account or company credit card for the personal transaction is not recommended. Doing so puts your finances and your business at risk of audit by the IRS and penalties because you may lose the protection offered by the separate legal entity.

You can also seek an accountant for more specific and real-time tracking on your Reports.

Loop me in if you have other concerns about recording transactions in QBO. Have a great day!