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Pay for business expenses with personal funds
by Intuit•58• Updated 3 weeks ago
Learn how to record business expenses you made with personal funds in QuickBooks Online.
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Although we recommend not to mix business and personal funds, we know it happens sometimes. When you reimburse a personal expense, you can record it as a check or an expense. Here's how.
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Step 1: Record the business expense you paid for with personal funds
- Select + New.
- Select Journal Entry.
- On the first line, select the expense account for the purchase.
- Enter the purchase amount in the Debits column.
- On the second line, select Partner's equity or Owner's equity.
- Enter the same purchase amount in the Credits column.
- Select Save and close.
Step 2: Decide how you want to reimburse the money
For the reimbursement , you have two options.
Option 1: Record the reimbursement as a check
- Select + New.
- Select Check. Or if you're in Business view, follow the steps to switch to Accountant view first. Then come back to these steps.
- Select a bank account to use to reimburse the personal funds.
- In the Category column, select Partner's equity or Owner's equity.
- Enter the amount to reimburse.
- Select Save and close or Save and new.
Option 2: Record the reimbursement as an expense
- Select + New.
- Select Expense.
- Select a bank account to use to reimburse the personal funds.
- In the Category column, select Partner's equity or Owner's equity.
- Enter the amount of the reimbursement.
- Select Save and close.
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