business credit card payment with personal account

Hello, BandN. I can help you how to handle your business credit card payment with a personal account.

When using the business account to pay personal expenses, you'll have to record them in QuickBooks and then reimburse your company. I'll guide you through the process.

To record a personal expense from a business credit account:

1. Go to +New and select either Check or Expense.
2. Select the Payee.
3. Choose the Bank Account, Cash Account, or Credit Card you used to make the purchase.
4. In the Category details section, select the dropdown menu to select the tax category that fits your need.
5. Enter the Amount of the purchase.
6. Select Save and close.

After recording the expense, reimburse the company. The steps are outlined below:

1. Go to +New, then Bank deposit.
2. Select the Account to add the reimbursement to, and select the Date.
3. 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.
4. Select the Payment Method and enter the reimbursement amount.
5. Tap Save and close.

I'm adding these links for more details about managing your accounts:

• Mixing business and personal.
• Pay for personal expenses from a business credit card or bank account.
• Pay business expenses with personal funds.

I'll be around if you need anything else managing your QuiciBooks accounts.

Thank you for your response but I think that the situation might be different. 

I bought personal item with my business credit card. 

Then I paid that business credit card with my personal funds (more like a reimbursement )

Because my QBO is link to my bank account, my banking screen for the credit card is showing:

1.  all expenses from the credit card that I need to categorize. Should I categorize all personal expenses as owner's distribution?

2. the CC payment "thank you Web" for X amount. 

where do I should categorize this card payment? 

 - record as credit card payment? 

- record as a transfer?

- categorize?

Thank you

Thank you for your response but I think that the situation might be different. 

I bought personal item with my business credit card. 

Then I paid that business credit card with my personal funds (more like a reimbursement )

Because my QBO is link to my bank account, my banking screen for the credit card is showing:

1.  all expenses from the credit card that I need to categorize. Should I categorize all personal expenses as owner's distribution?

2. the CC payment "thank you Web" for X amount. 

where do I should categorize this card payment? 

 - record as credit card payment? 

- record as a transfer?

- categorize?

Thank you

Hello there, @BandN. Let me join the thread and provide information on handling your credit card payment in QuickBooks Online (QBO).

It's always a good practice to avoid mixing business and personal expenditures. However, there are times when a business account is used to pay for personal expenses. When this happens, you'll have to record an expense transaction in your QBO account to track personal expenses. Then, you can reimburse the company. 

To do this, you'll have to record the business expense you paid using your personal funds in a journal entry. Here's how:

1. In the left menu, click the + New icon.
2. Choose Journal entry.
3. Select the account and check the amounts. The Credit column on one line and the Debit column on the other should have the same amount.
4. Enter information in the memo section so you know why you made the journal entry.
5. Choose Save and new or Save and close.

As for the account to use, I suggest contacting your accountant for guidance on what would be best in this situation.

After that, you can record the reimbursement using a check or expense. For more detailed steps, you can see this article under Step 2: Pay for business expenses with personal funds.

As for the downloaded transaction showing on your banking page, you can exclude the credit card payment by following the steps below:

1. In the left menu, click Banking/Transactions.
2. Go to the Banking tab.
3. Select the account from the list.
4. Locate the credit card payment.
5. Tick the box for the transactions you wish to remove and press the Exclude menu. 

Once done, the transaction will move to the Excluded section.

For future reference, here's a great resource about the best practices when reconciling: Reconcile Hub. 

Please let me know if there's anything else I can do for you. I'll be standing by for your response. Have a great day.