cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Not applicable

I purchased a personal item on my business credit card one month the following month i paid it from my pers acct via electronic payment. Dont know how to enter payment

 
1 Comment
QuickBooks Team

Re: I purchased a personal item on my business credit card one month the following month i paid i...

Good day, @magcolas!

 

I'm here to share a few things about payments made with a business credit card.

 

When paying your personal expenses with business accounts or funds, you must first enter the expense using your business credit card, then reimburse your company.

 

Here's how you enter the personal expense:

  1. Go to the Plus icon.
  2. Under Vendors, choose either Check or Expense.
  3. Enter information as needed such as Payee and Date.
  4. Choose the Credit Card account used when the expense was made.
  5. In the Account details section, choose Owner's Equity or Partner's Equity in the Account column.
  6. Enter the amount of expense made.
  7. Click Save and close.

Once done, you must reimburse the company for the amount of the expense. Here's how:

  1. Go to the Plus icon.
  2. Under Other, choose Bank Deposit.
  3. Select the account where the reimbursement should be added and the Date.
  4. In the Add funds to this deposit section, enter Partner's Equity or Owner's Equity in the Account column.
  5. Enter the reimbursement amount.
  6. Click Save and close.

I've attached an article you can read as your reference: How to Pay for Business Expenses with Personal Funds?

 

I still suggest seeking advice from your accountant in handling this type of payments.

 

I'm just a post away if you need a hand.

Need to get in touch?

Contact us