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sharimc
Level 1

Credit Card Cash Advance

I got a cash advance from our business credit card, then used the cash to purchase a used riding lawn mower for the business.  How do I record that?  Thx :)

1 Comment 1
MorganB
Content Leader

Credit Card Cash Advance

Hey there, sharimc.

 

Thanks for joining us here in the Community. I'd be glad to lend a hand so you're able to record the cash advance in QuickBooks Online.

 

I recommend creating the advance deposit first to show the amount received. This can be done by:

 

1. Clicking the create (+) icon in the top right corner.

2. Select Deposit.

3. Enter all of the necessary details and choose Save and close.

 

Once the cash has been entered, you'd then create an expense for the lawn mower by:

 

1. Clicking the create (+) icon once more.

2. Choose Expense.

3. Enter the details of the mower purchase, then Save and close.

 

The following articles provide additional info about these steps: 

I recommend checking with your accountant as well. They'll know the best way to get this entered depending on your business setup. I'll be here if you have any other questions.

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