It's a pleasure to have you here, @sjhardman_invoic.
When you move money from one account to another, you need to record the transaction as a transfer in QuickBooks. You can create a transfer between two accounts using any of the following:
- Transfer
- Cheque
- Matching imported bank transactions* (only available if you have one or more connected banks)
- Journal Entry (Check with your accountant before making a journal entry)
If you haven’t imported the transaction from your bank yet, the easiest way to record a transfer of funds is to use Transfer in QuickBooks. Here’s how:
- Click + New.
- Choose Transfer.
- From the Transfer Funds From dropdown list, select the bank account that the money is coming from.
- From the Transfer Funds To dropdown list, choose the bank account that the money is going to.
- In the Transfer Amount field, enter the amount being transferred.
- Modify the Date field.
- Enter a description of the transfer in the Memo field (optional).
- Click Save and close or Save and new to complete the transfer.
- Select Yes.
You can locate the recorded transfer by opening each account register in the Chart of Accounts.
If you used a physical cheque to transfer funds, you can utilize this article for the detailed steps on how to record this: Transfer funds between accounts.
Additionally, I've attached some articles you can check out to help manage your banking transactions in QuickBooks:
Keep me posted if you have other questions about your money transferred from business to your personal account.
