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Pay for personal expenses from a business credit card or bank account in QuickBooks Online
by Intuit•1• Updated 4 months ago
Learn how to handle a personal expense in a business account in QuickBooks Online.
Even though you should avoid mixing personal and business funds, sometimes it happens.
When you use a business account to pay for a personal expense, you should record it in QuickBooks. After that, you can reimburse the company. Here's how to do it.
Step 1: Record a personal expense from a business account
- Select + New.
- Select Cheque or Expense.
- Select a Payee from the dropdown ▼ menu.
- Select the Bank Account or Payment account from the dropdown ▼ menu.
- In the Category details section, select the dropdown menu ▼ to select the tax category that fits your need.
- Enter the Amount of the purchase.
- Select Save and close or Save and new.
Step 2: Reimburse the company
- Select + New.
- Select Bank Deposit.
- Select the Account to add the reimbursement to, and select the Date.
- Go to the Add funds to this deposit section. In the Received From field, enter the person who made the personal expense, then select the account.
Tip: Add the person as a customer if they aren't in your books already. Even if they're not a customer, this is the best option. - Select the Payment Method and enter the reimbursement amount.
- Select Save and close or Save and new.
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