Business & Personal Bank Accounts in Quickfile

Accounting
1

Hi
I’m a sole trader with a dedicated business bank account and a personal bank account at the same bank (Barclays). I recently needed to do a transfer of funds from my personal bank account into the business bank account to save bank charges for being overdrawn.

I have been using the Proprietors Drawings account to track any funds transferred back to my personal bank account for such things a non-business purchases from my Business Account and wages etc.

How do I account for the transfer of funds from my personal bank account TO my business bank account in QF. In other words, which type of transaction should I choose. I have looked at the obvious “Bank Transfer between accounts” but this is only one way.

Any help would be appreciated.

Chris.

2

You can just do the reverse of when you extract money and enter a bank transaction from the proprietor drawings account to the business current account.