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Hi there, paisleycat.
In QuickBooks Online Self-Employed (QBSE), we can only add transactions to record the payments. However, there's no option to transfer funds from one account to another.
With that said, manually record the transaction in the bank and you can a add note to classify the source and purpose of the transaction. See the attached screenshot below how to add a note.
- Head to the Transactions menu.
- Click the Add Transaction button.
- Enter the description and amount, then select Business if the transaction was for business, or select Personal for personal. If the transaction was both, select Split.
- Click the arrow so you can add a note, then Save.
On the other hand, it seems that your accountant is referring to categorize the deposit as either business or personal. To clarify, you can ask your accountant again for more details.
If you want to learn how QBSE automatically estimates your federal tax payments, check out this article: Automatically estimate your income tax in QuickBooks Self-Employed.
I'm just one post away if you need assistance with any QuickBooks-related concerns. You can click the reply button below to enter your queries. You have a good one.
