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userjeanabeana63
Level 1

Please can you tell me how to enter a purchase into quick books if i paid cash from my personal account?

 
1 Comment 1
JoesemM
Moderator

Please can you tell me how to enter a purchase into quick books if i paid cash from my personal account?

Welcome to the Community space, @userjeanabeana63.

 

You can enter the purchase you've paid with your personal funds through a journal entry. Let me guide you how:

 

  1. Select + New.
  2. Select Journal entry.
  3. On the first line, select the expense account for the purchase.
  4. Enter the purchase amount in the Debits column.
  5. On the second line, select Owner's equity.
  6. Enter the same purchase amount in the Credits column.
  7. Select Save and close to completely record the expense.

Then, we can now record the reimbursement as a check: 

 

  1. Click the + New icon.
  2. Select Check
  3. Choose the bank account that the company uses to reimburse personal funds.
  4. In the category column, select Owner's equity.
  5. Enter the amount to reimburse.
  6. Select Save and close or Save and new.

 

For more information about this process, you can visit this article: Pay for business expenses with personal funds. It also contains information on how to record the reimbursement as an expense.

 

Also, you can visit these handy articles that will guide you in recording funds between two accounts and how to handle a personal expense in a business account in QuickBooks Online:

 

 

Please let me know if there's anything else you need. I'll be around to help you out. Have a great day!