A family member recently attempted to reimburse me for expenses for an upcoming family trip and sent a Zelle to my business account instead of my personal checking account by accident. What is the cleanest way to fix this error? Both accounts are through Chase and I attempted to send it back so he could send it to the correct account but Chase prevented me from sending because the amount was too high.

EDIT: business is a sole proprietorship.

  • navel-encounters@alien.topBEnglish
    1·
    10 months ago

    just make a record in your books then transfer it to your other account. This happens to me all the time. The bookkeeper makes the correct postings.

  • AntiqueSunrise@alien.topBEnglish
    1·
    10 months ago

    Receive it as an owner contribution, then transfer it out as an owner draw. It’ll make your balance sheet look a little silly, but it isn’t a big deal and won’t impact your taxes.

  • arclight415@alien.topBEnglish
    1·
    10 months ago

    This is also pretty common with payment apps. They make it hard to 100% separate your personal and business accounts. Just transfer it to yourself and note in your books.

  • Pello1@alien.topBEnglish
    1·
    10 months ago

    I would wire it back and ask for another payment, this is the cleanest way imho

    • AnnaBannanna5@alien.topBEnglish
      1·
      10 months ago

      I agree - transferring between bz and personal account may be considered co-mingling funds and then why have the business in the first place?