How do I handle a personal credit card that has a business expense included?
When I started my business I purchased a piece of equipment (fixed asset) that was paid using a personal credit card, then later transferred part of the balance owed to a business credit card and part of the balance to a personal credit card. What is the best way to allocate those balance transfers in Quickbooks. I still owe on the equipment; however the balances still exist on those 2 cards (persona/business). The expense for the equipment already exists in Quickbooks online, I am just not sure if it is reflected correctly.
Hope you’re doing great. I wanted to see how everything is going about handling a personal credit card that has a business expense included. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.
Looking forward to your reply. Have a pleasant day ahead!