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March 16, 2023
Question

I have been paying a business t]loan through my personal account because there is no cash in the business - how do I log this on quick books?

  • March 16, 2023
  • 1 reply
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1 reply

Daniela_A
March 16, 2023

Welcome to the Community @deli-hammtunfine.

 

I have all the steps needed in recording business expenses you made with personal funds. Here's 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 Partner's equity or Owner's equity.
  6. Enter the same purchase amount in the Credits column.
  7. Select Save and close.

Although we recommend not to mix business and personal funds, we know it happens sometimes. When you reimburse a personal expense, you can record it as a cheque or an expense.  Utilize this article for the detailed steps: Pay for business expenses with personal funds.

 

Additionally, I've added an article that'll help you review your accounts in QuickBooks to make sure they match your bank and credit card statements: Reconcile Workflow.

 

Please let us know if you need additional assistance tracking your transactions in QuickBooks. We want to make sure your books are accurate.