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Tkote111
March 6, 2021
Question

Journal Entry

  • March 6, 2021
  • 1 reply
  • 0 views

I have a credit card bill that was paid from a personal account instead of the business account and I can't reconcile the credit card account.  Would I make a journal entry to credit Owner's Draw and debit the Credit Card Account so I can reconcile the credit card statement.

1 reply

A
AileneA
March 7, 2021

Hi there, Tkote111. 

 

Thank you for reaching us here in the Community. Yes! The only way to transfer the balance from one account to the other is to create a journal entry.   

 

Here's how to do it: 

 

  1. Click + New icon, then select Journal entry. 
  2. Enter all the information needed.
  3. Check the amounts make sure your debits equal your credits.
  4. Enter information in the memo section so you know why you made the journal entry.
  5. Press Save and close.

 

To learn more the whole process of creating journal entry, please refer to this article: Create a journal entry in QuickBooks Online.

 

Though, I still recommend consult an accountant to help you identify the affected accounts to make sure your book is accurate.  

 

Feel free to reach out to me if you have any other concerns by commenting below. I'm just a post away. Have a good one!

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