I have a business account all my customers use to pay me, but every week I transfer some of the money to my personal account. How do I account for it?

It's a pleasure to have you here, @sjhardman_invoic.

When you move money from one account to another, you need to record the transaction as a transfer in QuickBooks. You can create a transfer between two accounts using any of the following:

• Transfer
• Cheque
• Matching imported bank transactions* (only available if you have one or more connected banks)
• Journal Entry (Check with your accountant before making a journal entry)

If you haven’t imported the transaction from your bank yet, the easiest way to record a transfer of funds is to use Transfer in QuickBooks. Here’s how:

1. Click + New.
2. Choose Transfer.
3. From the Transfer Funds From dropdown list, select the bank account that the money is coming from.
4. From the Transfer Funds To dropdown list, choose the bank account that the money is going to.
5. In the Transfer Amount field, enter the amount being transferred.
6. Modify the Date field.
7. Enter a description of the transfer in the Memo field (optional).
8. Click Save and close or Save and new to complete the transfer.
9. Select Yes.

You can locate the recorded transfer by opening each account register in the Chart of Accounts.

If you used a physical cheque to transfer funds, you can utilize this article for the detailed steps on how to record this: Transfer funds between accounts.

Additionally, I've attached some articles you can check out to help manage your banking transactions in QuickBooks:

• Deposit payments into the Undeposited Funds account in QuickBooks Online
• Reconcile an account in QuickBooks Online

Keep me posted if you have other questions about your money transferred from business to your personal account.

Hi @sjhardman_invoic 

If you're self-employed it should be classified as Drawings.

It's effectively an advance on profits (which you don't know until the end of the tax year).

Be careful though because this is money that is not yet taxed.  You need to make sure that you keep track of Drawings & make sure you have enough money available to pay the tax bill when it comes.

Hope this helps.