Hello there, carlaschocolatebouquets, You'll want to categorize the transaction as Transfer in your QuickBooks Self-Employed. Transactions tagged as Transfer is excluded from our calculations for estimated taxes or business expenses. Here's how: Go to the Transactions menu. Locate the transaction you want to categorize. Swipe left for Business under the TYPE column. Select Transfer under the CATEGORY column. Once done, click Save.You can check this article for reference: Transfers between accounts in QuickBooks Self-Employed. Let me know if you have more questions.

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carlaschocolatebouquets

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If I make a withdrawal from PayPal linked to Quickbooks to a bank account linked to Quickbooks, how do I mark the transaction

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QuickBooks Self-Employed

MaryLurleenMAnswer

Level 6

Hello there, carlaschocolatebouquets,

You'll want to categorize the transaction as Transfer in your QuickBooks Self-Employed. Transactions tagged as Transfer is excluded from our calculations for estimated taxes or business expenses.

Here's how:

Go to the Transactions menu.
Locate the transaction you want to categorize.
Swipe left for Business under the TYPE column.
Select Transfer under the CATEGORY column.
Once done, click Save.

You can check this article for reference: Transfers between accounts in QuickBooks Self-Employed.

Let me know if you have more questions.

MaryLurleenMAnswer

Level 6

Hello there, carlaschocolatebouquets,

You'll want to categorize the transaction as Transfer in your QuickBooks Self-Employed. Transactions tagged as Transfer is excluded from our calculations for estimated taxes or business expenses.

Here's how:

Go to the Transactions menu.
Locate the transaction you want to categorize.
Swipe left for Business under the TYPE column.
Select Transfer under the CATEGORY column.
Once done, click Save.

You can check this article for reference: Transfers between accounts in QuickBooks Self-Employed.

Let me know if you have more questions.

dakoch

What about transfers between Personal accounts? If I transfer from my Checking account to my Brokerage account, it is showing as an expense (type: "Transfer") in my personal expenses calculation for the year.

Rose-A

Level 10

Hi, dakoch.

Moving money between your checking and savings accounts, you will see an expense, which is the money leaving your checking account, and an income transaction, that same money being deposited to your savings and should be marked as Transfers

The following articles are good references in categorising and managing your transfers in QuickBooks Self-Employed:

If you have other questions, don't hesitate to drop a reply below. I'll zip right back to help you out.

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