In general, it's good business practice to avoid mixing business and personal expenditures, and opening a business transaction account is one of the first things to do when starting a new business.
While it is not advisable to mix personal and business funds, you may encounter situations that will require you to do so.
In QuickBooks Online, your cheque and credit card accounts should be business-only accounts, but if you run into a situation where business and personal finances mix, the following articles can provide guidance on how to record such transactions.
Mixing business and personal funds—owners or partners
See the following articles for information about owners or partners mixing business and personal funds:
- How to pay for business expenses with personal funds
- How to pay for personal expenses from a business bank or credit card account
Mixing business and personal funds—employees
See the following article on how to reimburse employees who use their personal funds for business expenses:
This functionality is not available with QuickBooks Online Simple Start.