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caboog
Level 1

personal e-transfer to business account

I've had a couple of personal e-transfer payments accidentally sent and directly deposited into my business account, how do I post these?

3 Comments 3
Jen_D
Moderator

personal e-transfer to business account

It's nice to have you here, @caboog.

 

I want to help you out with recording your e-transfer in QuickBooks Online. For this, you have 2 options depending on what type of transaction it is. You can either record it as an expense for a payment or bank deposit if it is income.

 

To do that, follow these steps:

 

  1. Click the + New icon.
  2. Select Expense or Bank Deposit.
  3. Enter the payment details.
  4. Select Save and close or Save and new.

 

For the detailed instructions and accounts to use for the transfer, see this link: How to record a wire transfer in QuickBooks Online.

 

Feel free to post here anytime if you have other questions or concerns about recording electronic funds or transactions in QuickBooks Online. I'll be right here to help you out.

caboog
Level 1

personal e-transfer to business account

Hi, Thanks for the reply.  It is not a business expense or a business payment.  It was for some wine I bought for my sister.  She was suppose to send payment to my personal email but by accident she sent it to my work email where and it was automatically deposited into my business account.

Jen_D
Moderator

personal e-transfer to business account

Thanks for coming back to this thread, @caboog.

 

To account for this, you can create a check or expense written to you personal account so it deduct the deposited balance from the business funds. 

 

  1. Go to the + New icon.
  2. Choose between Expense or Check.
  3. Input the important details of the transaction.
  4. Press Save and close when done.

 

You can also create a dummy bank account and do a bank transfer. Use the dummy as your personal bank to receive the amount from the business account to there.  Then, you can make it inactive after, if you don't want the personal account in your books.

 

Visit this discussion again if there's anything else I can do to help you. I'd be very delighted to assist you anytime. All the best!

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