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July 12, 2020
Question

How to enter details of money which we put into the business and how to enter when we take some amount out for personal purpose?

  • July 12, 2020
  • 1 reply
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1 reply

BettyJaneB
July 12, 2020

HI there, @info-natureal-ae.

 

I can walk you through on how you can record your business transaction in QuickBooks Online.

 

You'll need to create a bank deposit to your desired account so you can add the money that you have. After that, you may generate an expense transaction to record the amount that you'll take out for personal purposes.

 

To make a Deposit:

  1. Press on + New at the left pane.
  2. Select on Bank Deposit.
  3. From the Account drop-down▼menu, choose the account you want to deposit the money into.
  4. Enter the deposit amount.
  5. Hit on Save and close.

To create an Expense:

  1. Tick on the + New at the left pane.
  2. Select on Check or Expense.
  3. Choose a Payee from the drop-down ▼ menu.
  4. Select the Bank AccountCash Account, or Credit Card you used to make the purchase.
  5. In the Category details section, hit the drop-down menu ▼ to select the tax category that fits your need.
  6. Enter the Amount of the purchase.
  7. Press on Save and close.

For more details on what are the different ways of entering deposits in QuickBooks Online and on how to modify expenses, please visit these resources:

Once you're going to reimburse the amount used for the purchase, you can check out the link attached to see what are the steps that you're going to take: Learn how to handle a personal expense in a business account in QuickBooks Online.

 

I'm just a reply away if you have any other questions about this or with QBO, @info-natureal-ae. Just leave a reply below. Take care!