Category "Transfer" and "Credit Card Payment"? Which to use for payments from my checking account to my credit card company?

This is for QB Self Employed specifically


Hi friedman.allan,

Let me provide you an overview on how transfers work in QuickBooks Self-Employed.

Yes, categorizing it as transfer for the credit card payment is the correct process. 

When moving money between two accounts, you'll see an expense since it is the amount leaving from your checking account. And it's also the same amount being deposited to your savings. Both should be marked as Transfers.

If the transaction is not marked correctly and is double-counted, you can change the category manually. 

Here's how:

  1. Click the Transactions menu on the left pane. 
  2. Select the transactions.
  3. Click the category to correct it manually.
  4. Click Save.

You can also reach out to your accountant to check for other ways on how to categorize the transaction. I have this article for your future reference: QBSE Schedule C Categories breakdown.

You can always post a comment below if you need further assistance. I'll be right here to help you.

Was this answer helpful? Yes No
IntuitMariaS , Community Support Specialist
Employee SuperUser

No answers have been posted

More Actions

People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Qb community
Looking for advice from other business owners?

Visit our QuickBooks Community site.