Hi there, @Jojomarino.
I'm here to help you with how to categorise transfers in QuickBooks Self-employed.
When you enter a transaction into QuickBooks, it is important to categorize them. This includes transactions downloaded from an online bank account or manually entered.
Transfers are classified into three types: owner's deposit, owner's withdrawal, and credit card payment. Check out this article for your reference: Learn more about transfer categories.
The owner's deposit is when transferring personal funds to your self-employment finances.
Owner's withdrawal is the transactions accept funds from your self-employed account for personal use.
The credit card payment type is only for credit card payments.
You can utilise this article for your reference: Learn more about transfer categories.
Moreover, here's how to categorise a transaction:
On a web browser:
- Navigate to the Transactions menu.
- Look through the list for a transaction.
- Select Business if the transaction was for business, or Personal if it was for personal reasons. Select Split if the transaction was both.
- Examine the category listed in the Category column. QuickBooks attempts to categorize transactions for you.
- Select the category link if you need to change the category. Choose a broad category and a more specific category.
- When you're done, select Save.
On an iPhone or iPad (iOS) or an Android:
- If you're on an iOS device, go to the Transactions menu. If you're on an Android device, select the menu ☰ icon and then Transactions.
- Find a transaction on the list.
- Swipe left to categorise it as Business or right for Personal. If the transaction is a mix of both, select the transaction and then select Split.
- As you swipe, review the category QuickBooks selected in the banner. If you need to change the category, select the category link. Then choose a new category.
In addition, discover how to create and apply rules to quickly categorize recent and historical transactions. Check out this article for your guide: Create rules in QuickBooks Self-Employed.
Let me know if you have a follow-up question, I'll be right here to assist you further. Have a pleasant day.
