I understand i should not mix personal and business accounts. I plan on rectifying this in the future. I am a sole proprietor. I occasionally make personal purchases with the business credit card. I pay the business credit card with the business checking account. How do i categorize the personal purchase? Should i exclude the personal transaction? I just set up an owners equity draw account. Do i add it to owners draw account or transfer it to owners draw account? Is there a difference between adding it or transferring it?
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Where you able to figure this out?
I just upgraded to QB online from self employed. I'm also having a hard time categorizing a personal expense on a business cc and paying the cc from a business checking account.
We thank you for choosing QuickBooks, @Miguel Alva.
Allow me to help you categorize a transaction in your account.
You should record in QuickBooks whenever you use a business account to pay for a personal expense. Then you can reimburse the company.
Here's how you can record a personal expense:
Please review this article for the detailed steps: Pay for personal expenses from a business credit card or bank account.
Just leave a comment if you have further questions. Have a nice day!