Re: How to move money in and out of an s-corp with online transfers?
You described Banking. Not the Why.
I run payroll and this Check will be Paperless; that means the Paycheck has the details. Then, I go online and make an Eletronic transaction to fund your Personal bank from Company, which is basically Direct Deposit not using Intuit's Payroll DD function. The Paycheck is in QB and this has the accounting info, and top left is From the checking account I just sent you the funds from = Paperless paydate. Done.
"It's easy to link the accounts in QB"
Never. Never link your Corporate Bookkeeping system with any Personal Bank or Credit Card o Loans. That is called Commingling.
This is banking menu > Write Check or Make Deposit: "but not sure how to account for the capital contribution and distribution."