How to record inventory purchases in QB that I paid with my personal credit card.

I can help you record these purchases paid with your credit card in QuickBooks, @Palomar.

Frequently, business owners will pay for business expenses with personal funds. These expenses can be recorded in QuickBooks by creating journal entry.

The expenses should be entered to the relevant expense categories via Owner’s Draw/Equity. Let me outlined the steps for you:

1. Go to the Company menu and select Make General Journal Entries.
   
2. On the first line, select the expense account for the purchase.
3. Enter the purchase amount in the Debits column.
4. On the second line, select Owner's equity.
5. Enter the same purchase amount in the Credits column.
6. Select Save and close.

You can also visit this article for further information on how to track expenses in QuickBooks. This provides ways to manage and organize your personal finances.

Don't hold back to drop a comment below if you have other questions besides recording expenses. It's my pleasure to be of great help. Take care!

I did some search on QB website and found that this should be recorded as entering a Vendor and a bill and pay that bill with a credit card....is that right?

How do I enter the invoice in from the vendor, and in turn pay myself back without it showing up as another purchase?

Nice to have you joined this thread, @TJ62.

I can share some insights and steps on how to record an invoice from your vendor without showing you purchase it. 

You’ll want to use a clearing account to move the funds from one account to another. This account normally has a $0.00 balance and is also called a Barter or Wash account. Let me show you how to set it up in your QuickBooks Desktop (QBDT) software.

1. Go to the Lists menu.
2. Select Chart of Accounts.
3. Right-click anywhere in the Chart of Accounts, then select New.
4. In the Add New Account window, select the Bank radio button.
5. Select Continue.
6. From the Account Name field, enter Clearing Account, Barter Account or Wash Account.
7. Do NOT enter an opening balance, then click Save & Close.

To use the clearing account, create a Journal Entry (JE) in entering those transactions. For more details about this process, you can check out this article: Set up a clearing account.

Also, I'd recommend working with your accountant for additional guidance. This way you’ll be guided accordingly on which account to use in creating a JE. If you’re not affiliated with one, you can visit our ProAdvisor page and look for one form there.

Once everything is all set, you might want to utilize this link for reference in reconciling your accounts.

Keep me posted if you have follow-up questions managing your accounts or with QuickBooks. I’ll be around to help you any time. Stay safe!

Unless I missed something, the answer of how to get the purchase applied against INVENTORY was not addressed.  When I do what is suggested, at creates a debit to COGS, not inventory, and a credit to A/P.

When I go to Vendor and create a bill for the purchase of inventory items, it records this purchase against COGS.