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