Hello marksawyers89,
I know that being a bit behind with your filings and paperwork can add stress, and then unravelling how to manage a situation with your books can be an additional stress. I'm here to do what I can to guide you through working with your information in QuickBooks and to make sure you have the right direction to move forward with your filing.
I see you've tagged QuickBooks Enterprise, QuickBooks Online, and QuickBooks Online Accountant for your post, so I'm not quite sure which product you're working with or in what capacity since these are each different and have different features. I still have some information I can share with you, however. I'll start with the mix of business and personal funds.
As you know, mixing business and personal funds isn't recommended for exactly the reason you highlight, but it happens from time to time. When it does, making sure it's recorded correctly in your books is key. Both QuickBooks Online and QuickBooks Desktop have recommended steps you can take in these instances. For QuickBooks Online, check out this article: Mixing business and personal funds
For QuickBooks Desktop, including Enterprise, there's an in-product article to reference for the steps. Here's how you can find it.
- Select Help from the top menu in QuickBooks Desktop.
- Choose QuickBooks Desktop Help.
- Choose the Help tab.
- Select Search.
- Type keywords like "personal funds" into the search bar and hit enter.
This'll bring up a number of articles you can consider, including one titled Record transactions that mix business and personal funds.
Whether you're using Enterprise or Online, these steps will get you back on track with these transactions in your books. As for how to handle them regarding the T2 you need to file, I recommend speaking with an accountant. If you are an accountant yourself, speaking with a colleague is what I suggest instead. An accountant will be able to let you know the best way to approach these transactions since they're coming from a closed period and if there's a particular way you need to accommodate them on your T2 filing.
For QuickBooks Online, an accountant user can even be added to your books through the My Accountant tab, which gives them the opportunity to work with you right in the program. If you don't have an accountant and would like one, access that tab to select the Find a pro to help button, which takes you to our list of QuickBooks-certified professionals near you.
For QuickBooks Desktop, the process is a bit different for working with an accountant. They'll be able to use what's called an Accountant's Copy of the file to access and make changes as needed to your books. This article explains: Create an Accountant's Copy of your company file in QuickBooks Desktop. If you don't have an accountant in this instance, you can use the Find an Accountant page on our website, which offers the same list as the Find a pro to help button in QuickBooks Online.
I wish you the best with this!
