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March 24, 2021
Question

I have made purchases using my debit card from my personal bank account not the one linked to quick books how do I add this to the accounts?

  • March 24, 2021
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1 reply

March 25, 2021

I'm here to ensure you're able to record your business purchases using your debit card from your bank account in QuickBooks Online (QBO), @andreamarieclayt. This way, you can keep your account updated and manage your transactions accordingly.

 

It's recommended not to mix your business and personal funds to keep your financial data accurate.  When it can't be avoided, you can record your purchases as a cheque or an expense. With this, you can reimburse a personal expense or purchases using your debit card. 

 

Let's start by recording the business expense you paid for with personal funds. Here's how:

  1. Go to the + New button.
  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.

 

After that, decide how you want to reimburse the money (either Cheque or Expense). If you choose to record the reimbursement as a cheque, here's how:

  1. Go to the + New button.
  2. Select Cheque.
  3. Choose a bank account to use to reimburse the personal funds.
  4. In the category column, select partner's equity or owner's equity.
  5. Enter the amount to reimburse.
  6. Select Save and close or Save and new.

 

Once done, I'd recommend pulling up the Transaction Detail by Account report. This is to verify that the purchase's reimbursement is recorded accordingly to the appropriate account. Just go to the For my accountant section from the Reports menu's Standard tab.

 

Also, I'm adding this article to further guide you in managing your business's expenses in QBO: QuickBooks Help Articles. It includes topics about paying expenses and bills, data security, and banking, to name a few. You can click the + More topics button to view other selections.

 

Let me know in the comments below if you have other concerns about recording business expenses with personal funds in QBO. I'm just around top help. Take care always.