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Join nowAs I am entering all the expenses for 2019, I am posting all the expenses against the business credit card, but I realized some expenses were charged against a personal credit card. Can I have an account named something else like "Personal Credit Card Acct' and post them against it? or should I just make journal entries for each one of them?
Thanks in advance for any help!
Solved! Go to Solution.
Hi there, @crisstax.
Thanks for contacting the Community.
I can help you record a business expense paid by a personal credit card.
First, you'll need to record a business expense that was paid for by personal funds:
Once done, you have two options on how you want to reimburse the money.
First, record the reimbursement as a check.
Second, record it as an expense.
For future reference, you can check out this article to learn how to track personal money or investments to your business.
Should you have follow-up questions, don't hesitate to leave a comment below. I'm always glad to help you out.
Did you pay the bill for the personal card from the business bank account or a personal bank account?
Hi there, @crisstax.
Thanks for contacting the Community.
I can help you record a business expense paid by a personal credit card.
First, you'll need to record a business expense that was paid for by personal funds:
Once done, you have two options on how you want to reimburse the money.
First, record the reimbursement as a check.
Second, record it as an expense.
For future reference, you can check out this article to learn how to track personal money or investments to your business.
Should you have follow-up questions, don't hesitate to leave a comment below. I'm always glad to help you out.
from the personal bank account.
thanks,
COD
Thank you!
This was never paid out of the account, however, I think I could probably do the reimbursements using an owner's withdrawal amount?