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anonymous29
Level 1

Record owners personal checking and CC expenses in QB but put under owners investment

I have paid a lot of expenses with my personal CC and checking account. I need to put those in QB but I want them put under owners investment as I dont want to be reimbursed. Please help 

2 Comments 2
daniellez
Level 3

Record owners personal checking and CC expenses in QB but put under owners investment

A journal entry is a great way to accomplish this. Debit your expense account you want to tie it to and credit your owners investment. 

Mich_S
QuickBooks Team

Record owners personal checking and CC expenses in QB but put under owners investment

Glad to see you here, @anonymous29.

 

I know some options on how you can record expenses with your personal credit card and checking account.

 

If you'd like to record the business expense you paid for with personal funds, follow the steps below:

 

  1. Click on + New.
  2. Choose Journal Entry.
  3. Choose the expense account for the purchase on the first line.
  4. Fill in the purchase amount in the Debits column.
  5. On the second line, choose Partner's equity or Owner's equity.
  6. Fill in the same purchase amount in the Credits column.
  7. Once done, click on Save and close.

 

On the other hand, go through the steps below if you'd like to record a personal expense from a business account. Ensure that you pick Owner's Investment under the category details.

 

Here's how:

 

  1. Click on + New.
  2. Choose Check or Expense.
  3. Pick a Payee from the drop-down ▼.
  4. Choose the Bank Account, Cash Account, or Credit Card you used to make the purchase.
  5. From the Category details section, click on the drop-down▼ to choose the tax category that fits your need.
  6. Type in the Amount of the purchase.
  7. Hit Save and close or Save and new.

 

For more information on how you can manage your transactions, read these links:

 

Keep in touch by leaving a reply in the comment section. We're always ready to back you up if you have additional concerns about this matter or QuickBooks in general. Take the best care!

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