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user8298794
Level 1

In transfers from my business account to my personal account, I write "owners draw" . When Quickbooks imports it, it changes the title to "owner drive" . Please help.

 
1 Comment 1
KlentB
Moderator

In transfers from my business account to my personal account, I write "owners draw" . When Quickbooks imports it, it changes the title to "owner drive" . Please help.

I can share some insights about how transfers work in QBSE, user8298794.

 

When importing your transactions to QuickBooks Self-Employed, the program will automatically categorize it according to its type. Since this type of transaction is a transfer, it will be excluded from the tax calculations. We can either rename this transaction or simply add notes to it indicating that it's the "owners draw".

 

Let me show you how to rename it:

  1. Log into your Self-Employed account.
  2. Select Transactions from the sidebar menu.
  3. Choose the appropriate transaction.
  4. Under the Action column, click the Arrow icon to expand the transaction.
  5. Change the name of the transactions or add notes to it.
  6. Hit Save.

Here's an article that will help guide in editing and categorizing your transactions in QuickBooks Self-Employed. This ensures that your records in QuickBooks and your bank are accurate.

 

If you need help in completing your task with QuickBooks, don't hesitate to visit and drop a post in the Community. We'll take care of you.

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