personal expenses on company credit card

lawrenanne1 · ‎December 12, 2022

We have multiple company credit cards and the occasional use of it for personal expenses. Is there a way, when recording the relevant transaction, to record it into Employee Advances with the correct employee identified so that it's easy to deduct it from their next pay cheque?

Gruntsculp1 · ‎December 22, 2022

As far as I know, there is no way to automatically do this.

Here is what I do:

On the credit card transaction, put the full charge to account: "Employee Advances"

In the memo line, type the Employee Name

Print:

From Chart of Accounts

Quick Report: Employee Advances

The employees names show in the memo column.

Ensure you have a payroll item "Advances Paid" or the like

While reviewing paycheques, in "Other Payroll Items" box, type the "advances paid" item and input the rate (amount from your Employee Advances column).

View solution in original post

Amanda-B · ‎December 12, 2022

Hey there lawrenanne1,

Thanks for reaching out to us here! Getting you the support you need is important for us. Making sure you're recording your transactions properly is an essential step for maintaining clean books. I would be happy to point you in the right direction for the best assistance.

In order to ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on creating these types of transactions. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. If you do not have an accountant, you can find one here.

If you have any other questions, feel free to reach out here.

Gruntsculp1 · ‎December 22, 2022