How to correct a personal charge on a business credit card?
In error, I used my business credit card for a personal purchase. How do I record the expense so that it doesn't show up in the expenses of the business? Do I add a new expense account called "miscellaneous"? Do I simply record it as an Equity Draw or should I reimburse the business? If I write a personal check to the business, how do I record it so that it doesn't show as revenue? Do I add a new revenue account called "miscellaneous"? The business is an LLC partnership with 50/50 equity split. Each of us has a business credit card. Apologies for all the questions. Your help is much appreciated. Tim