Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowWe made a deposit to our Business account instead of our personal account in error. How should I correct this in Quickbooks Online. I was thinking I would write a check to myself for the same amount but I wasn't sure how to categorize it in QB to make sure it doesn't cause a problem in the future. Thanks for any assistance.
Personal funds placed into the business, such as this, is Owner Equity Contributions. When or if (unless you are a Subchapter S and equity doesn't apply but shares of stock does it would be a loan to the company) you repay yourself it is Owner Equity Withdrawal. There is never a requirement to "pay" back your additions to your own business - or even to take a withdrawal if profitable.
Good Morning, @Kviehe.
It's always nice to see a new face here in the Community. If you manually recorded the deposit in QuickBooks Online, then you can delete the transaction and re-enter it. It's that easy.
Note: Before following the steps below, I recommend consulting with your accountant to be sure. They'll be able to provide the best accounting advice for your business and help you make the right choice on how to record this issue. If you don't have an accountant, check out this link to find one near you.
Delete the Deposit
Re-enter the Deposit
It's a piece of cake! Learn more about recording and making bank deposits through this guide.
Should you need any further assistance, don't hesitate to ask. Have a great day!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.