Personal Charge on a company credit card

Hello, @April45.

I'm here to contribute steps on how to record your reimbursement charge on a company credit card in QuickBooks Desktop (QBDT). 

To record a business purchase paid for by personal funds, you'll have to record the expense first, then enter the partner or owner's reimbursement for that expenditure.

Here's how: 

1. Go to the Company menu, then click on Make General Journal Entries.
2. Choose the appropriate Date in the field.
3. On the first line, specify the appropriate expense Account for the purchase.
4. Enter the amount of the purchase in the Debit column.
5. On the second line, in the Account column, enter the Owner's equity or Partner equity. If you don't have it yet, click +Add to create a new one. 
6. In the Credit column, type the amount of the purchase.
7. Tap Save and close.

After that, you can now record the reimbursement as a cheque/expense:

1. Click on Banking at the top menu bar.
2. Select Write Checks.
3. Fill in the necessary information and select the Bank/Credit account you are reimbursing from. 
4. Choose Partner's Equity or Owner's Equity under the Account column.
5. Enter the amount of the reimbursement.
6. Hit Save and close.

Furthermore, I highly recommend getting in touch with a professional accountant to record the transactions respectively.

To your second question, you'll need to deposit the check amount to be reported in the system. Let me show you how: 

1. On the Homepage, select Make Deposits.
2. Pick the account you want to put the deposit into from the Deposit to drop-down. 
3. Complete the Received From, From Account, Amount. 
4. Hit Save and close. 

You can always view the deposit history by going to the Reports, then locate the Deposit Detail report, then click the Run icon. For more information, visit this article: Record and make bank deposits in QuickBooks Desktop.

Lastly, it's also impossible by creating a deduction item for reimbursement to your employee. 

I've also added articles about handling chart of accounts, 

• Learn about the chart of accounts in QuickBooks
• Reconciliation and Deposits FAQs

That's it. Don't hesitate to leave a message below if you have follow-up questions. I'm keen to assist. Take care!

@MichelleBh  Hi Michelle! I have the same problem, but in QuickBooks Online. Can you modify your instructions for QBO?

The same steps work for QuickBooks Online (QBO), Teesa.

I'm here to guide you with the details.

First, record the business expense you paid for with a personal account.

1. Click on Journal Entry from the +New icon.
2. On the first line, select the expense account for the purchase.
3. Enter the purchase amount in the Debits column and the Partner's or Owner's equity on the second line.
4. Enter the same purchase amount in the Credits column.
5. Select Save and close.

Once you decide to reimburse the amount, you can either record a check or an expense transaction.

Here's how:

1. Go to the +New icon, then click on Check or Expense.
2. Select a bank account to use to reimburse the personal funds.
3. In the category column, select partner's equity or owner's equity.
4. Enter the amount to reimburse.
5. Hit on Save and close.

I also recommend seeking assistance from a professional accountant to record the transactions accordingly.

For more hints about the process, you can open these links:

• Mixing business and personal funds
• Pay for business expenses with personal funds

On the other hand, here's how you can record personal expenses made from a business account.

Please feel free to get back to me here for any additional questions about personal and business expenses. I always have your back. Thanks for dropping in, and cheers for more success!

I don't believe this is the answer the OP is looking for based on the original post.

An employee bought personal items with company card. How to record the expense, then the subsequent payment by said employee (not owner) is what I believe the OP is looking for.

Thanks!

Right you are, KathyApple. They got it backwards. This is the employee mistakenly using the company CC to make a personal purchase, not using a personal CC to make a business purchase. Looks like there is no answer to the original question.

@gapaz2019   It's also a post that is 2 years old.

I have the same type of question

A vendor bought personal items with our company card by mistake. 

Is there a way to enter the cc transaction that will automatically post a credit to the vendor?

Hello MichelleBh,

You didn't answer the question asked. Can you tell us how to deduct an employee's personal expense that was paid for using the company credit card from their paycheck?

Hello there, @Sibyl.

I'm here to help deduct an employee's paycheck from the personal expense that was paid using the company credit card.

Firstly, you'll need to set up a payroll deduction item from net pay as wage garnishment. This way, you can add it when processing payroll for your employee. Here's how:

1. Go to the Lists menu, then select Payroll Item List.
2. Click the arrow down beside Payroll Item and select New.
3. Select EZ Setup, then click Next.
4. Choose Other Deductions and select Next.
5. Leave the Payee and Account # blank, then click Next and select Finish.
6. Go back to the Payroll Item List, then open the created Wage Garnishment deduction item. Then, click Next.
7. In the Liability account drop-down, select an Other Current Asset account instead of a liability account. It reduces their pay but does not affect any other tax computations.

Once done, you can now add this payroll item when you process payroll.

Most importantly, I recommend seeking help from your accountant to ensure your books are accurate.

Just in case you want to run payroll reports to view useful info about your business and employees, you can check out this article for more guidance: Run payroll reports.

Fill me in if you have other concerns or follow-up questions about this. The Community team and I are always here to help.