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How to correct a banking deposit error?

I'm just starting a company and deposited money from my personal bank account into my business bank account. What's the proper way to record that in QuickBooks? So far I just entered it as a deposit, but I'm not sure that's right. I use QuickBooks Desktop Pro 2017.

 

Thanks for your help.

2 Comments
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Re: How to correct a banking deposit error?

Depends on your business entity type:  Sole Proprietor, LLC, S Corp or C Corp.  Most likely you want to debit Cash (Bank) account and credit Equity account.

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Re: How to correct a banking deposit error?

Thanks for responding.

 

My company is an LLC. I took the money from my personal checking account, which is not in Quickbooks.

 

At present, Quickbook shows the deposit under the business checking account and also lists it under Owner's Equity. Is that correct, or do I need to do something different?

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