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Hi all,
I have a question regarding credit card payments and charges.
We have employees using our CC to buy material, we categorize it as an expense.
When we transfer money from our bank acc to CC to pay it off, it shows up as an expense also, and we have double expenses. Our balance is very off because of that. How should we categorize it?
Than you.
I'm here to make sure the transactions are recorded accurately, asiaplk26.
To start, let's record the expenses you paid with your credit card. I'll guide you how:
Once done, let's record the reimbursement as a check.
For further guidance, please see this article: Pay for Business Expenses with Personal Funds.
Additionally, I've added an article that'll help you learn how to handle a personal expense in a business account in QuickBooks Online: Mixing Personal and Business Funds.
Please come back and post about your results in recording the transactions. I'm determined to ensure your success.
Hi,
We don't need to reimburse for expenses. Our issue is that the same amount shows up as expense twice. If there is charge on our CC for $100 at the store it will show up as an expense, and if we transfer $100 from bank account to CC account to pay off for that store charge it will also show up as an expense. So its two $100 expenses for only $100 spend.
Good afternoon, @asiaplk26.
Thanks for reaching back out to the Community. I hope your day is going well so far. I'm going to provide you with some details to help answer your question.
The easiest way to record payments in your QuickBooks Online (QBO) account is by going through the +New button. All you need to do is click the Pay down credit card option and follow the rest of the instructions. Here's a link that can give you additional insight: Record your payments to credit cards.
When trying this if the issue persists, then I recommend reaching out to our Customer Support Team. They'll be able to use other tools to help resolve this problem.
Let me know how it goes. I'm always here to lend a helping hand. If you need me I'm only a post away. Have a great day!
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