I made the payment through bill pay so right now its a transfer from business account to the personal credit card. I need to send the money back to the business account from my personal bank account (preferred to do as a bank transfer). How do I categorize the original payment in QB online, and then how do I categorize the transfer of the money bak into the business account. If it matters this is an LLC (just wife and I) being taxed as an S-corp.
Should I just do the payment as an owner draw and the reimbursement as an owner investment or does his cause tax problems
Welcome to the Community page,
So you can leave the payment on the personal account and just make sure to create a transfer from the personal account where the payment should be taken from.