Account for Personal item on receipt

Hi Peterino123,

Using QuickBooks Online is a great way to stay organized with your Business and Personal Accounting needs.  I'd be happy to help!

It's best to record the full amount as indicated on the receipt so you can reconcile without complication.  For the Personal item, I'd suggest creating a Journal Entry so you can select the appropriate account to ensure the funds are recorded accurately. To create a Journal entry, click on New and then Journal Entry.

If you have any questions regarding the information required to complete the Journal Entry, I suggest reaching out to an Accountant.  If you don't have an Accountant you can find one here.

If you have any additional questions or concerns, please feel free to reach out.  We'd be happy to assist!

Thanks for the info.   In my case there are two items on the receipt; one being personal and the other business. 

The journal entry would then be a debit related to the expense.

Sales tax portion represents the amount of tax charged on the personal item.

There is no connecting the journal entry with the expense though.  This is just a record to refer to later on. 

Is this right?

Peter

Hi Peterino123.

At this point I'd recommend reaching out to your accountant on how to make this entry as they would be trained in how to track and enter these transactions. If you don't have an accountant you can follow the link my colleague posted earlier.

If you have any questions let us know and we'd be happy to help.