I used personal funds for my initial LLC with the SOS. What category do I use for a reimbursement of this business expense now that my business has an income?

Hello @hdlawnandhandyma,

In QuickBooks Self-Employed, reimbursement of a business expense paid with personal funds is one of the Owner's Deposit transactions. Thus, you can use Transfers as the category of your bank transaction.

In addition, here's an article you can read to learn more about your transaction: Categorize money transfers in QuickBooks Self-Employed.

However, I'd still recommend contacting your accountant for additional assistance in choosing the category you can use. If you haven't yet, here's a link you can use to find a bookkeeper near you: Business is better with a ProAdvisor.

Lastly, I've also included this reference helpful for the steps in reviewing your downloaded bank transactions: Categorize transactions in QuickBooks Self-Employed.

Keep in touch if you have other questions about the category of your transactions. I've got your back. Have a good day!

Thank you. Separate Question:

I am using mileage for my vehicle expense (instead of gas). I am not even going to enter gas cost for my vehicle into quickbooks since I'm not calculating it.

I use equipment for my business (Lawn mower/weedeater). What category do I put this under so that it calculates correctly for deductions at the end of the year? I see "gas and fuel" but that says for a vehicle and If I use mileage, I would assume that wouldnt calculate as a deduction.

Hi hdlawnandhandyma!

Thanks for the reply. Let me join this thread and share some tips on how to categorize your transactions.

I won't recommend using the mileage for gas costs especially if you don't want it to be part of your business expenses. Instead, you can record it as what you normally do to other transactions. Then, you can simply mark it as Personal.

With regards to the equipment you use, you can categorize them using Other tools and equipment. We use this when recording the cost of tools and equipment needed for your self-employment. It'd also be best to seek some advice from your accountant on how to properly handle these transactions.

I've added some links you can check. These will show you the available categories and their uses:

• Categorize transactions in QuickBooks Self-Employed

• Schedule C and expense categories in QuickBooks Self-Employed

Need anything else? Leave a comment below and we'll respond as soon as we can.