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Get unlimited expert tax help and powerful accounting in one place. Check out QuickBooks Online + Live Expert Tax.

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RCV
QuickBooks Team
QuickBooks Team

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Thanks for checking in with us, iatcc. 

 

When using a business account to pay for a personal expense, you should record it in QuickBooks Online (QBO). After that, you can reimburse the company. Here's how to record a personal expense from a business account:

  1. Click the + New Plus icon. 
  2. Select Check or Expense.
  3. Choose a Payee from the drop-down menu.
  4. Select the Bank Account, Cash Account, or Credit Card you used to make the purchase.
  5. In the Category details section, select the drop-down menu β–Ό to select the tax category that fits your need.
  6. Enter the Amount of the purchase .
  7. Press Save and close.

 

Then, reimburse the company by following the steps below: 

  1. Click the + New Plus icon. 
  2. Select Bank Deposit.
  3. Tap the Account to add the reimbursement to, and select the Date.
  4. Go to the Add funds to this deposit section. In the Received From field, enter the person who made the personal expense, then select the account. Tip: Add the person as a customer if they aren't in your books already. Even if they're not a customer, this is the best option.
  5. Choose the Payment Method and enter the reimbursement amount.
  6. Press Save and close.

 

If you need to reimburse a personal expense in the future, just follow the steps and details in this article: Pay for business expenses with personal funds.

 

Feel free to visit our Account management page for more insights about managing your Intuit Account.

 

The Community always has your back, and I'm just a post away should you ever need anything. Just leave a comment below and I'll get back to you. Have a great day ahead. 

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