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Level 1

fixing a reconciled payment to vendor that was paid by owners personal cc

I have a few payments that were made with owner's credit card (which is not in QB as a vendor or a credit card in QB,  entered as loan payable to)   I need to apply the payment to the bill and can't get it figured out.  It is a very unique situation,  any help would be much appreciated. 

 

Thanks

 

InfiPS

Solved
Best answer February 03, 2020

Best Answers
QuickBooks Team

fixing a reconciled payment to vendor that was paid by owners personal cc

Good Afternoon, @InfiPS.

 

It's fantastic to see you here in the Community. :)

 

The amount the owner paid is considered a loan to the company. You need to create either a liability account or a credit card account (due to owner). Once this is complete, you can post the transactions there and link them to the bill.

 

.

 

If you are not sure which account to pick, consult with an accountant for the best information.

 

Post back at any time. I'm always here to help. :)

View solution in original post

2 Comments
QuickBooks Team

fixing a reconciled payment to vendor that was paid by owners personal cc

Good Afternoon, @InfiPS.

 

It's fantastic to see you here in the Community. :)

 

The amount the owner paid is considered a loan to the company. You need to create either a liability account or a credit card account (due to owner). Once this is complete, you can post the transactions there and link them to the bill.

 

.

 

If you are not sure which account to pick, consult with an accountant for the best information.

 

Post back at any time. I'm always here to help. :)

View solution in original post

Level 1

fixing a reconciled payment to vendor that was paid by owners personal cc

Thank you!!  

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