Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I am the owner of the company and used my personal credit card to pay a vendor. I am trying to record it into Quickbooks, but several methods I found did not work for some reasons. So I created a bank account called Owners Reimbursable, and enter the credit card payment as a credit into the "Owners Reimbursable" account and use that to pay the bill that was entered in the quickbooks. Company then write a check to me for the payment. However when pull the report for the company profit and loss, the "Owners Reimbursable" account is not included in the report. What did i do wrong and is there any simpler way to make the entry easier and have the correct report?
Thank you.
Hello hming,
I know this kind of situation might be a bit tricky to work through. While we recommend that business and personal funds are kept separately, there are sometimes circumstances where they cross over. Knowing how to account for them if key, and I can share some resources to figure this out.
QuickBooks Desktop has a number of built-in help articles that let you know the ways you can consider recording your transactions in the program. These may have been what you've already come across, but I'd like to start by directing you there.
This method mentions directly going into your Chart of Accounts to create the entry in the account register. I can see how this might not fit what you need if you're working with a bill, for instance. If that's the reason you're looking for alternative methods, that makes sense.
In those instances, I recommend working with an accountant. An accountant that knows QuickBooks Desktop in particular would be a great asset because they'll know how to use the features in the program to help you out. They may even be able to shed some light on what you've currently tried to let you know if that'll work for your situation. To find an accountant that knows QuickBooks Desktop, check out our Find an Accountant page.
When it comes to reporting, a Profit and Loss report is designed to show you income and expense accounts, meaning that you wouldn't see a bank account there. Since you say you set up the Owner's Reimbursable as a bank account, you'd want to run a report like the Balance Sheet report to see that account and it's transactions. QuickBooks Desktop has a few Balance Sheet accounts, including a Balance Sheet Detail report if you're hoping for something that gives you an in-depth look.
You can learn about the different reports and what they'll display by selecting Report from the top menu, then choose Report Centre. Use the search bar or the menu bar on the left to review the different kinds of reports. If you toggle the List View of reports, you can see an explanation of what they'll show you. The toggle is right under the Report Centre search bar.
I hope this helps. Have a great rest of your day!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here