Learn how to categorize transfers in and out of your bank and credit card accounts.
When you connect your bank and credit card accounts to online banking, QuickBooks Self-Employed automatically downloads your latest transactions. All you have to do is categorize them.
Money transfers between your connected accounts also show up in QuickBooks. Usually, this is when you move money between your business or personal accounts. Categorize transfers as Transfers in QuickBooks Self-Employed to keep your accounting clean and accurate.
Learn more about transfer categories
There are three categories for transfers: owner's deposit, owner's withdrawal, and credit card payment.
Categorize a money transfer
After QuickBooks downloads transactions from your bank, you can categorize money transfers as Transfers.
Tip: If you see records of the money moving to and from an account, categorize both as Transfers.
QuickBooks Self-Employed doesn't calculate transfers as part of your estimated federal quarterly tax payments. It also doesn't include them as business income or expenses on your financial reports.