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MrRobS
Level 2

Transfers or Dividends

Hi, I am new to quickbooks and am wanting to use it as a quick and easy way to record transactions, particularly for VAT.
I normally transfer an amount of money from my business account to my personal account every week, and then at the end of the year I work out how much of this is a dividend, wage or personal renumeration with my accountant.

In the meeantime, how do I record these transfers on quickbooks?

Can I put them down as a 'transfer to directors current account'? Or is that the wrong catergory?

 

Many thanks

Solved
Best answer September 24, 2021

Accepted Solutions
Tash_BewitchingBookkeeping
Level 3

Transfers or Dividends

Morning,

 

That would be the ideal place or you could transfer it to drawings.  As long as it goes to the same place each time and your accountant is aware of where you are transferring it to, then that would work.

 

Have a good day :-)

View solution in original post

2 REPLIES 2
Tash_BewitchingBookkeeping
Level 3

Transfers or Dividends

Morning,

 

That would be the ideal place or you could transfer it to drawings.  As long as it goes to the same place each time and your accountant is aware of where you are transferring it to, then that would work.

 

Have a good day :-)

MrRobS
Level 2

Transfers or Dividends

Thankyou for your reply!

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