It's great to have you here, @woolies,
I can share some insights about setting up an account for both business and personal funds.
Generally, QuickBooks is designed for tracking business and not for personal finances. During tax time, you have to declare income and expenses related to your business separately from your personal transactions.
While it is not advisable to mix personal and business funds, there are special situations that will require you to do so. If you're operating as a corporation, you should not use a single book for both funds.
However, for Sole Proprietors you can categorize personal expenditures as Other Expense and post business as regular Expense type accounts. From a legal point of view, you can use one bank since the legal ownership is the same and there is no reporting of assets.
Here are great references to help you account your finances:
How to pay for personal expenses from a business card or bank account
How to pay for business expenses with personal funds
Please update me if you have more questions about QuickBooks. I'll be more than happy to help whenever you need me. Have a nice day!
