Consulting fees paid into personal account, how do I account for these in my quickbooks business account

What company would only pay an individual vs. a company?  And I assume they give you a 1099 at the end of the year? (Assuming you make enough to require a 1099.)

Ask your CPA/Tax Accountant, but if the money is paid to you personally, it goes against your Personal Income Tax, it has nothing to do with the business.

@ug1 

Agreed with @Pete_Mc  that it doesn't make any sense that they need to pay you personally. 

However, assuming you are a sole proprietor, it really doesn't matter since you and your business are one and the same.  You have a couple of options:

1) You can deposit the funds into your business account and record the payment just as if you had received it from your customer. 

2) If you choose not to deposit the funds, you can receive the payment on the invoice and deposit it to a bank Clearing Account (if you don't have one, set one up in your Chart of Accounts).  Then, create a journal entry (New > Journal entry) and debit your owner's draw equity account, and credit the newly-created bank Clearing Account. 

If you're anything other than a sole proprietorship, you should go with option #1.   

There are organizations that can hire consultants directly (under certain contract amount limits) to speed up contracting without going through a bidding process.  These are typically fairly small contracts and yes, the org's then generate 1099's which is why I have them deposited into my personal account not the business account.   

The company is an S-corp.  There are some organizations that can issue contracts to "individual consultants" without opening up the work to a bidding process.  These are typically fairly small contract that fall under a certain amount (that changes depending on the organization).  They then generate 1099's, which is why have the funds deposited into my private account.  But, then it is not reflected in the business' reports and accounting.  So, I cannot deposit it into the business bank account.  Is it not possible to follow the second suggestion if the business is an S-corp instead of a sole proprietorship?

Thank you, Nancy 

Given that my firm is an S-corp, is it not possible to follow your second suggestion?

Thank you,

Nancy

Dear Rainflurry -- could you clarify if I can use your second suggestion as an S-Corp?

Thank you,

Nancy

@ug1 

There are some organizations that can issue contracts to "individual consultants" without opening up the work to a bidding process.

I incorrectly assumed that this was all handled through your company but they just happened to pay you personally.  However, it sounds like they hired you as an individual, not as your S-corp.  Is that correct?  If so, then @Pete_Mc  is correct, you should keep all of this out of your S-corp's books.  Let me know if I'm missing something.   

Okay, I got it now.  And you do nothing with the Company as they did not hire the company. 

You just keep the money in your PERSONAL Acct and turn in the 1099s with your PERSONAL paperwork when you do your taxes.  Just give your Accountant a heads up so they don't see a 1099 and dump it in with the business taxes.