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vertigo2896
Level 1

If I count each transaction on a business card as an expense, then I send a payment to that card from my business account, do I count them both as expenses, or is there a better way to

 
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Best answer April 03, 2021

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Charies_M
Moderator

If I count each transaction on a business card as an expense, then I send a payment to that card from my business account, do I count them both as expenses, or is there a better way to

Thanks for asking about this, vertigo2896.

 

In QuickBooks Self-Employed (QBSE), sending payment from your business account is recorded as a Credit Card payment. Then, other transactions from your business card can be counted as Expense.

 

However, It would be best to consult an accountant or accounting professional so you'll be guided accordingly on how to handle this type of situation.

 

Check out Categorize money transfers in QuickBooks Self-Employed and Schedule C and expense categories in QuickBooks Self Employed for more details about categorizing transactions. 

 

Additionally, let me share these easy-to-access articles, webinars, and video tutorials that will help you in familiarizing the different tasks, features, and functions of QBSE. Below are the following:

Please let me know if you have any questions or concerns while categorizing transactions. I'm only a Reply away. Feel free to reach out to the Community any time. Take care! 

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1 Comment 1
Charies_M
Moderator

If I count each transaction on a business card as an expense, then I send a payment to that card from my business account, do I count them both as expenses, or is there a better way to

Thanks for asking about this, vertigo2896.

 

In QuickBooks Self-Employed (QBSE), sending payment from your business account is recorded as a Credit Card payment. Then, other transactions from your business card can be counted as Expense.

 

However, It would be best to consult an accountant or accounting professional so you'll be guided accordingly on how to handle this type of situation.

 

Check out Categorize money transfers in QuickBooks Self-Employed and Schedule C and expense categories in QuickBooks Self Employed for more details about categorizing transactions. 

 

Additionally, let me share these easy-to-access articles, webinars, and video tutorials that will help you in familiarizing the different tasks, features, and functions of QBSE. Below are the following:

Please let me know if you have any questions or concerns while categorizing transactions. I'm only a Reply away. Feel free to reach out to the Community any time. Take care! 

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