How to import business transactions from my personal checking account into Quickbooks Online as journal entries for 2024?

Hello there, JGRS.

To import business transactions from your personal checking account into QuickBooks Online (QBO), you can manually import the transactions and then categorize them appropriately. This process will ensure you accurately record business-related expenses and income without mixing personal finances.

To start, you’ll first need to retrieve the transaction history from your personal checking account. Most banks allow you to download this data in a compatible format. You can refer to this article: Format CSV files in Excel to get bank transactions into QuickBooks.

If your personal checking account includes both personal and business transactions, make a note of what’s business-related beforehand or separate those transactions within your download file. Once the transaction file is ready, then we can manually import those transactions.

Here's how:

1. Go to Transactions, then select Bank Transactions.
2. Click the dropdown arrow beside the Link account button.
3. Select the Upload from file.
4. From the Import bank transactions page, select Drag and drop or select files, and select the file you downloaded from your bank. Then, select Continue.
5. In the Select account dropdown, select the account you want to upload the transactions to. Then, select Continue.
6. Follow the onscreen steps to match the columns in the file with the correct fields in QuickBooks. Then select Continue.
7. Choose the transactions you like to import. Then select Continue.
8. Click Yes, then select Done.

After importing transactions, QuickBooks Online will place them into the "For Review" section. This is where you can start categorizing and marking transactions from your personal checking account that are relevant to your business.

Then, you can create a Journal Entry manually to debit the correct business expense accounts and credit the appropriate owner's contribution or equity account. It’s important to ensure proper categorization and avoid commingling your personal expenses with business records. If you’re unsure, consider reaching out to an accountant for advice specific to your situation.

If you have any further questions related to QuickBooks, please feel free to ask them here in the Community. We are always ready to help with your inquiries.