QB Issue Resolution:

If you are a sole proprietor, then from a legal point of view it does not matter if you mix personal and business in one bank account, as the legal ownership is the same. It also does not matter from a tax point of view, as there is no reporting of assets (bank account is an asset) in the tax return – just schedule C, which is the P&L.  From a personal tracking point of view it’s a good idea to reconcile the bank accounts, so you should not exclude transactions, as if you do, you can’t reconcile.  You can even categorize personal expenses, under “Other Expense” type accounts, and post business expenses as regular “Expense” type accounts, and then the Operating Income in the P&L (which does not include “Other Expense” accounts) is the taxable income, before adjustments, like mileage.

If this is a corporation then, you should not mix personal and business in one bank account, mainly because you may lose the personal liability protection that you get with a corporation.

Resolution for Issue 'How to manage personal expenses – Is it better to exclude personal transactions or list them as a personal expense which can be filtered out? I use my personal card to pay for business expenses therefore my statement and what comes into quickbooks from this account is a mix of personal and business. What is the best way to remove the personal charges from Quickbooks? I have created a ‘personal expense’ account that I am putting these transaction in and then can get the total and remove when needed. Would it be better to select the personal expenses and use the exclude button? Thanks' available: Yes (Solved).
Source: Intuit Community forum.

How to manage personal expenses – Is it better to exclude personal transactions or list them as a personal expense which can be filtered out? I use my personal card to pay for business expenses therefore my statement and what comes into quickbooks from this account is a mix of personal and business. What is the best way to remove the personal charges from Quickbooks? I have created a ‘personal expense’ account that I am putting these transaction in and then can get the total and remove when needed. Would it be better to select the personal expenses and use the exclude button? Thanks: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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