How should I categorise bank transactions where I've moved money out of my business account and into my personal account for normal non-business related living?

Hello there, Sunneva. Since you've moved funds for personal use, you can categorise this as Equity in your Chart of Accounts, or you can use the Expense features so you can record it in QuickBooks. Let me discuss it below.

In recording an Equity account since you are transferring funds from the business account for personal use, we cannot suggest a specific account to categorise that transaction. You may wish to consult and seek your accountant's advice to determine the appropriate category for personal expenses.

On the other hand, we can also record your personal expenses when you use a business account. After that, you can reimburse your business.

As a best practice, keep your personal and business expenses separate. While it's not advisable to mix personal and business funds, there might be some situations where you need to use your business account for personal use.

For more details on managing your transactions, refer to this article: Pay for personal expenses from a business credit card or bank account.

Please don't hesitate to reply below if you have further questions about your transaction in QuickBooks. We're here to help.