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Pristine
Level 1

We paid for imported products to overseas suppliers and logistics services (with GST) from our personal account. How to record these transactions as expense inQuickBooks?

Dear QuickBooks guru, please help me entering 2 types of transactions to QuickBooks app. 1. We paid for overseas suppliers for products from our personal account. This was before our pty ltd company was founded. 2. We paid Australian logistics company to help shipping and importing those products to Australia from our personal account too, this is after the company was founded. GST was paid during the importing process. Our company is registered for GST. Thank you.
1 Comment 1
KayIntuit
QuickBooks Team

We paid for imported products to overseas suppliers and logistics services (with GST) from our personal account. How to record these transactions as expense inQuickBooks?

Hi Pristine,

 

Please see below an article that outlines how to record expenses that were paid for with Personal Funds:

 

https://quickbooks.intuit.com/learn-support/en-au/other-questions/pay-for-business-expenses-with-per...

 

We also suggest confirming with your Accountant with regards to the GST component as they will be able to best advise how to record this in your QuickBooks Online Account.

 

Thank you,

 

Kay.