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jasculs
Level 1

Transfering funds from business account to personal account as pay (single member LLC)

So I have a single member LLC and I don't write myself checks.

 

When I pay myself I transfer my payment from to myself from my business account to my personal account.

 

How would I mark this in QBO? Would I also add my personal checking into QBO so I can match the transfer or would I just mark it as an uncategorized transfer?

 

Thanks!

1 Comment 1
wwampler
Level 2

Transfering funds from business account to personal account as pay (single member LLC)

I would set up an expense account indicating it is personal -- use it somewhat like a credit card payment.. the transfer then shows it went to an expense. just not live feed. I would not connect a personal account to a business program. 

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