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Level 1

Sole Proprietor - Business/Personal Account Transfers

I am a sole proprietor and have a personal and a business account. I typically keep my personal and business expenses separated, however, every once in a while, I am facing one of the following scenarios. I was wondering if someone could explain how to deal with these situations properly. (I use QuickBooks Self-Employed to keep track of income and expenses.)

 

1) I accidentally deposit a check by a client into my personal bank account. 

2) I accidentally pay for a personal expense with business funds.

3) I accidentally pay for a business expense with my personal funds.

 

Do I just transfer the money between the two bank accounts to correct these issues or do I have to write myself an invoice and a check?

 

 

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