cancel
Showing results for 
Search instead for 
Did you mean: 
ME308
Level 2

Which category when Paying Credit Card with personal funds

I paid the outstanding balance of the business credit card with personal funds.

I followed the instructions in the video "How to pay business expenses with personal funds", but when I clicked save, Quickbooks said I need to choose a different account.
In the "Category", I selected the Credit card account I paid off, then on the next line "Owners Investment".

Should I have matched all of the transactions that were made on the card instead?

Also, in the "Payment Method" I selected "cash". This was a bank transfer. Do I need to Add Bank Transfer to the Payment Method?

Best regards

Solved
Best answer August 26, 2021

Best Answers
Tori B
QuickBooks Team

Which category when Paying Credit Card with personal funds

Hey there, @ME308.

 

Thanks for reaching out to the Community for support. 

 

Great job finding and using one of our how to videos. It sounds like you're on the right track. To know which account or category to use, you'll need to discuss that with your accountant. Your accountant will know the best accounts and categories to use based on your business. 

 

If you don't have an accountant, don't sweat. You can find one here in our Resource Center

 

Please let me know if you have any additional questions or concerns. Take care! 

View solution in original post

1 Comment 1
Tori B
QuickBooks Team

Which category when Paying Credit Card with personal funds

Hey there, @ME308.

 

Thanks for reaching out to the Community for support. 

 

Great job finding and using one of our how to videos. It sounds like you're on the right track. To know which account or category to use, you'll need to discuss that with your accountant. Your accountant will know the best accounts and categories to use based on your business. 

 

If you don't have an accountant, don't sweat. You can find one here in our Resource Center

 

Please let me know if you have any additional questions or concerns. Take care! 

Need to get in touch?

Contact us