How do I categorize personal Zelle tranfers from my wife's bank to my account? They're not business transactions.

Hey ShawnT,

Thank you for reaching out to the QuickBooks Community! For this scenario, we normally recommend that you reach out to your accountant to see what would be the best fit for your business. If you don't have an accountant, no worries! We offer a ProAdvisor program. Simply enter your zip code and you will connect with experts around your area. They even offer a free consultation! Here's how:

1.  Go to this Find my Accountant link.
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3.  Select Search.
   
4.  Browse through the results and find one that works best for your business. You can click on each ProAdvisor's profile to learn more information about them.
   

If you have any other questions, I'm just a post away. Have a wonderful day!

Thank you for the response, but I don't think I need an accountant to sort this out.  I am a very small one-man operation.  I sell through eBay.  I just want to know how to categorize Zelle transfers from my wife's personal account to my personal account in Quickbooks.  I don't have a dedicated business bank account, only the one personal account that I use for everything.  My wife sends me money to pay bills, etc. and it has nothing to do with the business.  I just want to know how to record that money in as something that isn't business income.

Hi.

Just wondering if you have found a solution.

Cheers.

@Alexbatista1   It is not recommended to use a personal bank account, especially intertwined with a business.  That's probably why no one answered after ShawnT added that it is personal to personal.   That's also probably why it was suggested to consult the accountant.  

You may have a struggle finding an answer here.  

Good luck. 

Hi ShawnT,

First off, I am not a CPA . You may want to confirm with your CPA.

You can select it as a transfer to Owner's Pay & Personal Expense so it is not included as revenue but, but this only works if you do the same for the personal expenses you have used it for. 

If you use it to pay for something for the business. It would be Owner's Investment. You may have to add a journal entry to account for the investment and business expense.

Or create a special income account for when she sends you money and then you can create a customized profit and loss that does not include this account.

If you have an LLC, using a personal account is a liability. You do not have protection if someone were to sue your business since everything is co-mingled.

Hope this helps.

N

So it's done as owner 's pay and personal expenses, is the wife a vendor, employee or customer? How is she accounted for?