cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 2

How do I record an expense I paid to a vendor with my personal credit card? I do not want to link my personal credit card to Quickbooks.

 
1 Comment
Highlighted
Moderator

How do I record an expense I paid to a vendor with my personal credit card? I do not want to link my personal credit card to Quickbooks.

I'm here to ensure you're able to record an expense with a personal credit card in QuickBooks Online (QBO), @pml2269487.

 

First, let's set up a dummy account since you don't want to link your card in QBO. You'll use this when you reimburse the money via check or expense. Then, let's create a journal entry to record the expense you've paid to a vendor with a personal credit card. 

 

I'd suggest consulting your accountant to determine the appropriate types for the dummy account. Also, they can help you assist when you create the journal entry. Please make sure to switch from a Business view to an Accountant view. Once verified, proceed with the steps below. 

 

To set up the dummy account: 

  1. Go to Accounting from the left menu. 
  2. Select Chart of Accounts.
  3. Click New
  4. Choose the Account Type and Detail Type
  5. Enter the Name. 
  6. Click Save & Close.

 

The screenshot below shows you the last three steps. 

SetUpDummyAccount.PNG

 

To create a journal entry: 

  1. Go to the + New button from the left menu. 
  2. Select Journal entry under Other
  3. Set the Journal date
  4. Choose the expense account for the purchase on the first line. 
  5. In the Debits column, enter the amount. 
  6. Select Partner's equity or Owner's equity on the second line. 
  7. In the Credits column, enter the same amount. 
  8. Hit Save.

 

See the screenshot below to show you the last six steps. 

CreateAJournalEntry.PNG

 

Once done, you'll have to record the reimbursement through a check or an expense. Please make sure to use the dummy account you've just created to reimburse the personal funds.

 

For detailed instructions, check out this article: Pay for Business Expenses with Personal Funds

 

It's a great business practice to avoid mixing business and personal expenses. But there may be times where it's necessary. With this, I recommend visiting this article for more information about this: Mixing Business and Personal Funds Overview. Also, click the two links to help you pay for personal expenses from a business account and reimburse an employee. 

 

Please know that I'm here anytime you have other concerns. Enjoy the rest of your day, @pml2269487

Need to get in touch?

Contact us