Personal Check Register in QuickBooks

by Amy
(Iowa)

Question about having a personal check register in QuickBooks.

We have two checkbooks. One used for personal and one for business. I have them both entered into QuickBooks. I want a Profit & Loss report for only the business checking account. Is this possible?

Jennifer replies:

It is a mistake to have the personal register in QuickBooks. If this was a good practice I would tell you, and I would tell you how to manage it. But it isn't a good practice.

The only way around it is if you are a Sole Proprietor. Then, you can take ALL of the entries from the personal check register, and code them to Owner's Draw rather than to the various expenses.

If you are ANY other entity type then I must suggest that you delete all of the entries from the personal check register out of QuickBooks, and to use the QuickBooks file ONLY for business reasons.

I hope this answers your question regarding having a personal check register in QuickBooks. Take care and thanks for writing.