I use 1 of my personal credit cards only for business expenses. And I pay that card via my personal account. Why won’t QB let me log the payment as owner’s investment?

jsj876-gmail-com · ‎May 11, 2021

Angelyn_T · ‎May 11, 2021

I appreciate you for getting back to this thread and thank you for adding the screenshots of the error message you're getting. I'm here to share with you some additional troubleshooting steps to isolate this issue.

First, I recommend categorizing the downloaded transaction through a web browser to narrow down the result. Your QuickBooks application from your mobile device may affect the issue.

Here's how you can open QuickBooks through a supported browser:

Open this link: https://c1.qbo.intuit.com/qbo1/login?&useNeo=true.
Enter your login credentials.
Hit Sign In, then choose the file you want to open.

Once done, here's how you can categorize your transaction from the Banking page.

Click on Banking or Transactions at the left pane.
Go to the Banking page.
Select your account, then go to the For Review section.
Look for the transaction, then select Categorize.
From the Category section, pick the Owner's Investment account.
Hit Confirm.

If it works fine, you can proceed with updating your QuickBooks application (steps may vary depending on the device you're using):

On your device, open the App Store.
Look for the QuickBooks app, then update it from there.

Just in case you're getting the same result when opening QuickBooks using a web browser, I recommend reaching out to our Support Team for further assistance. A live representative can access your account securely and investigate this error message.

For more tips about categorizing your banking transactions, you can open this article: Categorize and match online bank transactions in QuickBooks Online.

Moreover, here's how you can record personal expenses in QuickBooks Online.

If you have any other follow-up questions, please let me know by adding a comment below. I'm more than happy to help. Keep safe!

View solution in original post

LieraMarie_A · ‎May 11, 2021

I've got your back, @jsj876-gmail-com.

To clarify, are you using an expense transaction to record the business expense? The best way to enter the business expense you paid for with your personal funds is using a journal entry. This way, we can debit or pay using the Owner's Investment or Equity account.

Select + New.
Select Journal entry.
On the first line, select the expense account for the purchase.
Enter the purchase amount in the Debits column.
On the second line, select Partner's equity or Owner's equity.
Enter the same purchase amount in the Credits column.
Select Save and close.

To reimburse the money, follow these steps below:

Click + New.
Select Check.
Select a bank account to use to reimburse the personal funds.
In the Category column, select the partner's or owner's equity account.
Enter the amount to reimburse.
Select Save and close or Save and new.

You can check these articles to learn more about the process of tracking personal money to your business:

I'm also adding these links that might be helpful for you in case you pay for personal expenses from a business bank account:

Should you have other concerns about handling business and personal funds, please let me know. I'm always here to help. Have a wonderful day.

jsj876-gmail-com · ‎May 11, 2021

For all my business needs I pay with my personal credit card. And I use this particular credit card only for business expenses and not for personal ones, so it’s easier to keep track. I have linked this credit card to my QB account and all transactions are automatically recorded as expenses.
To pay off the statement balance each month of the credit card I use my personal account which is Not linked to QB. And I figure, since I pay off the balance with my personal funds this is an owners investment into the business. But QB doesn’t let me record it that way!!!! What am I doing wrong?

jsj876-gmail-com · ‎May 11, 2021

For all my business needs I pay with my personal credit card. And I use this particular credit card only for business expenses and not for personal ones, so it’s easier to keep track. I have linked this credit card to my QB account and all transactions are automatically recorded as expenses.
To pay off the statement balance each month of the credit card I use my personal account which is Not linked to QB. And I figure, since I pay off the balance with my personal funds this is an owners investment into the business. But QB doesn’t let me record it that way!!!! What am I doing wrong?

JenoP · ‎May 11, 2021

Thanks for sharing additional details about your concern, jsj876-gmail-com.

Can you tell us how did you try to record the payment as an investment? Are you also getting an error message? We're asking these questions to make sure that we're giving you the right steps to resolve the issue.

Please reply again to share more details. Thanks.

jsj876-gmail-com · ‎May 11, 2021

Angelyn_T · ‎May 11, 2021

Hi, @jsj876-gmail-com.

I appreciate you for getting back to this thread and thank you for adding the screenshots of the error message you're getting. I'm here to share with you some additional troubleshooting steps to isolate this issue.

First, I recommend categorizing the downloaded transaction through a web browser to narrow down the result. Your QuickBooks application from your mobile device may affect the issue.

Here's how you can open QuickBooks through a supported browser:

Open this link: https://c1.qbo.intuit.com/qbo1/login?&useNeo=true.
Enter your login credentials.
Hit Sign In, then choose the file you want to open.

Once done, here's how you can categorize your transaction from the Banking page.

Click on Banking or Transactions at the left pane.
Go to the Banking page.
Select your account, then go to the For Review section.
Look for the transaction, then select Categorize.
From the Category section, pick the Owner's Investment account.
Hit Confirm.

If it works fine, you can proceed with updating your QuickBooks application (steps may vary depending on the device you're using):

On your device, open the App Store.
Look for the QuickBooks app, then update it from there.

Just in case you're getting the same result when opening QuickBooks using a web browser, I recommend reaching out to our Support Team for further assistance. A live representative can access your account securely and investigate this error message.

For more tips about categorizing your banking transactions, you can open this article: Categorize and match online bank transactions in QuickBooks Online.

Moreover, here's how you can record personal expenses in QuickBooks Online.

If you have any other follow-up questions, please let me know by adding a comment below. I'm more than happy to help. Keep safe!

jsj876-gmail-com · ‎May 11, 2021

Yes, I just did that.

logged in through the web browser and it worked. No error messages!

Thank you

Angelyn_T · ‎May 11, 2021

It's my pleasure to hear that the steps I've provided have fixed your concern, @jsj876-gmail-com.

Please know that our doors are always open here on the Community forum if you have any other QuickBooks or banking questions.

Aside from that, you can also check out the topics from our help articles for more hints and resources while working with QuickBooks in the future. Here's the link: Help articles, video tutorials, and more.

Cheers for more success!

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I use 1 of my personal credit cards only for business expenses. And I pay that card via my personal account. Why won’t QB let me log the payment as owner’s investment?