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patricecarroll
Level 2

When I use my credit card for business purchase it logs as expense. However, when I pay off my CC it also shows as an expense. This seems like a double calculation. Help!

 
Solved
Best answer April 22, 2021

Best Answers
katherinejoyceO
QuickBooks Team

When I use my credit card for business purchase it logs as expense. However, when I pay off my CC it also shows as an expense. This seems like a double calculation. Help!

 

Thanks for visiting the Community today, @patricecarroll. I'm here to help ensure you're able to categorize your transactions accordingly. 

 

In QuickBooks Self-Employed, credit card payments should be categorized as Transfers since this is a payment you made to your bank or credit card for business purchases you already made.

 

Let's recategorize your credit card payment to keep your accounting clean and accurate. Here's how:

 

  1. Go to the Transactions menu, then find the transaction (credit card pay-off).
  2. Select the ▼ icon to expand the transaction.
  3. Edit the transaction name, add notes or attach a receipt.
  4. Select the link in the Type or Category column to change the category, then select a new category.
  5. Click Save.

 

For additional insights, check out and read these articles to learn more about classifying your transactions, and the Schedule C categories. 

 

 

I'm still here to guide you should you need further assistance or if you have additional questions. Take care.

View solution in original post

1 Comment 1
katherinejoyceO
QuickBooks Team

When I use my credit card for business purchase it logs as expense. However, when I pay off my CC it also shows as an expense. This seems like a double calculation. Help!

 

Thanks for visiting the Community today, @patricecarroll. I'm here to help ensure you're able to categorize your transactions accordingly. 

 

In QuickBooks Self-Employed, credit card payments should be categorized as Transfers since this is a payment you made to your bank or credit card for business purchases you already made.

 

Let's recategorize your credit card payment to keep your accounting clean and accurate. Here's how:

 

  1. Go to the Transactions menu, then find the transaction (credit card pay-off).
  2. Select the ▼ icon to expand the transaction.
  3. Edit the transaction name, add notes or attach a receipt.
  4. Select the link in the Type or Category column to change the category, then select a new category.
  5. Click Save.

 

For additional insights, check out and read these articles to learn more about classifying your transactions, and the Schedule C categories. 

 

 

I'm still here to guide you should you need further assistance or if you have additional questions. Take care.

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