How do you enter personal expenses in quickbooks which accrue GST in the GST paid and add in to the directors loan account?

Hi, eng1 

For Australians

You can claim a credit for any GST included in the price of any goods and services you buy for your business. You also cannot claim GST credits for some purchases (even if GST is included in the price), including:

• to the extent that a purchase is for a private or domestic purpose

visit below link regarding claiming GST

https://www.ato.gov.au/Business/GST/Claiming-GST-credits/

Use Directors Drawing account including the GST amount

if you are using Directors Loan account to offset which will reduce the loan amount

consult your tax consultant / accountant and upload/attach relevant documents for later use.

Comment back for further clarifications / to discuss.

Hi,

Just clarifying, if a Director has paid for company registration fees, for example, would you use a Journal entry, such as:

Debit Account: Registration Fees (Expenses)

Credit Account: Loan From Director (Liability)