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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

My situation is similar to the original post and I tried to do what r1lawrence described. So I have the bill from (say) Acme Office Products for $50, but an employee (say Bob) paid it and I want to reimburse Bob. I don't want to show I bought printer paper from Bob, I want to show that I bought printer paper from Acme and then reimbursed Bob. The answer r1lawrence gave seems to answer the question of showing the whole transaction, which I want.
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Level 15

How to record transaction: Employee paid a large vendor invoice with their personal credit card

You never use a Discount function. You just bypassed everything you stated you Want to see. A vendor bill is offset with a vendor credit.
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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

Thank you. I think I've got things resolved now!
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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

You need to look at WHY the employee paid the large company expense on personal credit card. It's not good business. I have seen this happen often. Different reasons ...to accrue points/cash back on credit cards which would then essentially be income or to get large sum of cash without a cash advance rate on their credit card or various other reasons. Either way, it should not happen and a determination as to why!

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Level 7

How to record transaction: Employee paid a large vendor invoice with their personal credit card

So I assume you entered the bill for the freight.  You need to set up the employee as a vendor.  You will have to use some different form of their name so that is not a duplicate list entry. 

 

Enter a vendor bill toggling the credit field at the top of the enter bill field and enter the amount that the employee paid.  Go to pay bills.  Select the vendor and apply the credit that shows at the bottom of that window.  If not paid in full, swipe through the amount paid on the vendor screen and type in the amount that the employee paid.

 

Enter a bill for the amount that the employee paid with the employee as the vendor.

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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

I created the reimbursement account as described and everything went through fine but now my cash basis balance sheet doesn't balance. It's off by the exact amount of the bills paid by the owner on her AMEX. Anyone else have this issue or know how to fix it?

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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

Forgive me if this is a duplicate comment

 

I followed the instructions to create the Reimbursement other current liability account. Everything went through fine and I was able to bring the reimbursement account to zero. However, now my cash basis balance sheet is out of balance by the exact amount of vendor bills paid for by the owner on her AMEX. Has anyone else had this problem or know how to fix it?

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Anonymous
Not applicable

How to record transaction: Employee paid a large vendor invoice with their personal credit card

My boss said he pays subcontractors from his personal account. I know this is untrue. He wants to be reimbursed from the company account. It is almost $100k. How do I do this? 

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QuickBooks Team

How to record transaction: Employee paid a large vendor invoice with their personal credit card

Thanks for joining this thread, Queenie634.

 

Let me help guide you on how to process reimbursement in QuickBooks Online (QBO). 

 

To record a business expense paid for by personal funds, you have an option to enter the reimbursement either as a check or as an expense. 

 

Here's how to reimbursement as a check:

  1. Select the Plus icon (+) on the Toolbar.
  2. Under Vendors, select Check.
  3. (Optional) In the Choose a payee field, enter the name of the partner/owner.
  4. Select the Bank Account you are reimbursing from (you can also use petty cash).
  5. In the Account column, select Partner's Equity or Owner's Equity.
  6. Enter the Amount of the reimbursement.
  7. Select Save and close.

To record the reimbursement as an expense, here's how:

  1. Select the Plus icon (+) on the Toolbar.
  2. Under Vendors, select Expense.
  3. (Optional) In the Choose a payee field, enter the name of the partner/owner.
  4. Select the Bank/Credit account you are reimbursing from (you can also use petty cash).
  5. In the Account column, select Partner's Equity or Owner's Equity.
  6. Enter the Amount of the reimbursement.
  7. Select Save and close.

For additional reference, you can check this article on how to pay for business expenses with personal funds

 

Just in case you need further assistance with the steps, you can contact our QuickBooks Online Support Team. They have additional tools to pull up your account and do a screen-share.

 

Here's how you can contact our customer support:

  1. Sign in to your QuickBooks Online company.
  2. Select Help (question mark icon) at the top right.
  3. Select Contact us to connect with a live support agent.

This will get you on the right track. Please know that I'm just a post away if you have additional questions about the reimbursement. Have a good one. 

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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

 
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Moderator

How to record transaction: Employee paid a large vendor invoice with their personal credit card

There's no need to add a new vendor, Ma_nna.

 

QuickBooks Desktop allows you to select a vendor in the CUSTOMER:JOB drop-down. Let me lay down the steps that Lexiesmemere has described. 

  1. Click on the Banking menu. 
  2. Select Write Checks.
  3. Select the employee in the Pay to the order of drop-down. 
  4. In the Expenses tab, select Accounts Payable from the ACCOUNT drop-down. 
  5. Select the vendor from the CUSTOMER:JOB drop-down.
  6. Enter the amount.
  7. Click on Save and Close

 

If you are using QuickBooks Online, there's another way to record an employee reimbursement. Here's a reference with the steps: How to reimburse an employee.

 

We are glad to get you directed to the right page when recording an employee reimbursement. Let us know if you need more help. 

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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

This really doesn't resolve the issue.

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QuickBooks Team

How to record transaction: Employee paid a large vendor invoice with their personal credit card

Hi katsan32c,

 

This thread is joined by a mix of QuickBooks Online and QuickBooks Desktop users. So, we'll talk about the general process of recording expenses paid by an employee and reimbursing them. Please also have this reviewed by your accountant to make sure that your records are correct.

 

If your employee paid your vendor, you can track their payment as a loan to your business. Then, you can record the reimbursement, like how you paid them in actual.

 

Create a journal entry to track the loan:

  1. On the first line, you can choose the Other Current Liability account and enter the amount in the Credit column. I would suggest creating a liability account for this scenario.
  2. On the second line, choose the expense account that is associated with the item you paid to the vendor. Then, enter the amount in the Debit column. If there's a vendor bill, use the A/P account in this line instead. Then, tag the vendor's name, so this journal becomes a credit to their profile and can be applied as payment to the bill.

Reimburse the employee by writing them a check or recording an expense transaction, depending on how you paid them back. Choose your business account as the source of funds and select the Other Current Liability account in the Expense section.

 

After creating the transactions above, you'll see that the liability account will be zeroed out, the vendor is paid, and the employee is reimbursed.

 

Please don't hesitate to reach if you need to clarify certain steps.

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Level 1

How to record transaction: Employee paid a large vendor invoice with their personal credit card

Can I do multiple entries at the same time?  I paid two different vendors with my credit card, can I put both charges on the same check and then be able to select both bills as being paid?

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QuickBooks Team

How to record transaction: Employee paid a large vendor invoice with their personal credit card

Hi there, @NHSMP.

 

As my colleague stated earlier, this thread is a mix of Online and Desktop. So, I don't want to assume which product you are using so. I'm going to apply both help facts in this response. You can only apply one vendor to one check in, both QuickBooks Product. I'm going to list how to do multiple at a one time with separate checks.

 

QBO Online:

  1. Go to the +New button.
  2. Now let's select Print Checks.
  3. Load the printer with your checks.
  4. Select the bank account that has the checks your write that need to be printed.
  5. Starting check no. field, enter the check number of the check in the printer. The number is found to  the right of the account number at the bottom of the check.
  6. Then choose Preview and Print. If everything is correct, select Print.
  7. Now hit OK and select Done.

QB Desktop:

  1. Go to the Banking, then select Write Checks.
  2. Click on the Print Later box next to the Print icon for each check you want to print, then close the Write Checks window.
  3. Afterward, select File, then choose Print Forms. Choose Checks or Paycheck, as appropriate.
  4. Now click on your bank account and select the checks you want to print. To do this, place checkmarks next to them.
  5. Enter the first check number, then choose Ok.
  6. Here, you're going to pick Check Style (WalletVoucher, or Voucher), then be sure that the correct printer name is showing. 
  7. Now select Print.

Now you're able to print your checks with multiple vendors. To know more about this, just visit Print Checks for Vendors. I'm glad I was able to lend a helping hand to you today. If you have any further questions, please don't hesitate to reach back out to me. Happy Tuesday!

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