Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
I mistakenly paid my credit card bill with my personal checking account (I paid directly through the Capital One app). I wrote myself a check from my business account to pay the money back to my personal account. What I need to do now is clear the bill that was entered for the credit card and tie it to the check I wrote myself from my business account. Is there a journal entry to fix that?
Solved! Go to Solution.
Hello, @Ssekki.
When paying your business credit card transactions using your personal account, you'd want to use the Partner's equity or Owner's equity account in the journal entry. I'll guide you how.
Once completed, you can reimburse the personal account by writing a check or creating an expense transaction. Just make sure to associate the transactions to the correct account.
Here's how to write a check:
Let me know if you have other questions about managing your expense transactions. I'm always here to help.
Hello, @Ssekki.
When paying your business credit card transactions using your personal account, you'd want to use the Partner's equity or Owner's equity account in the journal entry. I'll guide you how.
Once completed, you can reimburse the personal account by writing a check or creating an expense transaction. Just make sure to associate the transactions to the correct account.
Here's how to write a check:
Let me know if you have other questions about managing your expense transactions. I'm always here to help.
Fix what? Not with a journal entry.
You should, since you move personal funds in and out, have a Cleariling bank account. Pay the bill from the Clearing account. Make a deposit to clearing from owner equity contribution. Cut check to you posting to owner draw, or not. There is no law saying you have to ever reimburse yourself for adding money to the business. All you have to do is keep track
Thank you! That worked.
Thanks John! That makes sense. I guess either way would work. For some reason I get nervous when my personal gets mixed up with my business.
Thanks for responding with a solution. Much appreciated!
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
For more information visit our Security Center or to report suspicious websites you can contact us here