cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Unlock the full power of QuickBooks with our Training Classes - Discover more
Chris_Eagland
Level 1

Paid for a business expense out of personal account - QB Self Employed

Hi there,

 

I accidentally paid for a £149 van hire business expense on my personal debit card. 

 

How do I record this transaction accurately within my QB Self Employed portal? I want to a) record the transaction as an expense in my QB Self Employed portal and b) reimburse my personal bank account.

 

Thank you to whoever is able to help.

 

Kind regards,

Chris

1 REPLY 1
TirzahC
QuickBooks Team

Paid for a business expense out of personal account - QB Self Employed

Hello, Chris_Eagland.

 

QuickBooks Self-Employed (QBSE) is commonly used to track income, expenses, mileage, and tax info. This type of QuickBooks is designed specifically for independent contractors and freelancers at year-end. QuickBooks Online (QBO) on the other hand is preferred by small businesses because of the chart of accounts feature.

 

If so you would record this percentage amount using an expense transaction, on the expense select the business bank account under 'Payment account' and enter an expense account on the Category drop-down. This way, they can guide you on the correct category to use for making sure your books are accurate.
 

I'm also sharing this article for additional reference about categories in QBSE: Custom categories in QuickBooks Self-Employed.

 

The Community is always open if you have other questions. I'll be around to help. Wishing you a great day ahead.

Need to get in touch?

Contact us