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June 14, 2025
Question

I use my bank account for personal spending as well as business how do I categorise personal spending?

  • June 14, 2025
  • 1 reply
  • 4 views
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1 reply

QuickBooks Team
June 14, 2025

You can go to the Transactions tab to categorize your personal transactions, lkbradbury.

 

Here's how:

 

  1. Go to Transactions, then click Bank transactions.
  2. Select the account you want to review.
  3. Hit the For review tab.
  4. Click on the transaction you want to categorize.
  • Select Add if the suggested category is correct.
  • Use the dropdown or create a new one to change the category.
  • If you find that the transaction is already in QuickBooks, select match or view multiple matches.

 

For detailed steps on categorizing your bank transactions, you can check out this article: Categorise online bank transactions in QuickBooks.

 

Also, consider reaching out to an accountant to know what category to use when categorizing your personal transactions in QBO. This way, you can ensure that transactions are classified correctly, which is essential for accurate financial reporting and compliance.

 

It is also important to note that maintaining separate bank accounts for business and personal expenses is recommended to track your business cash flow, prepare accurate financials, and distinguish deductible business expenses from personal spending. This separation simplifies bookkeeping and reduces the risk of misclassification.

 

To streamline your transaction review process in the future, consider setting up bank rules in QuickBooks Online. These rules can automatically categorize your downloaded transactions. 

 

Should you have additional questions, the Community is always available to provide support.