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March 14, 2023
Question

credit card expenses

  • March 14, 2023
  • 1 reply
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I have two credit cards and three LLCs. How do I allocate an expense to one LLC and not another? I would like each LLC to have specific expenses but I can't seem to figure out how to do it. Thanks!

1 reply

March 14, 2023

Let me help you allocate an expense to one LLC in QuickBooks Online (QBO), UGHLLCS.

 

If you are trying to record a Credit Card expense, we can either pay down a credit card or write a check to record the CC expense. Then, make a note in the Memo column on what specific LLC is to allocate for each company. Here's how to pay down a credit card:

 

  1. Click the + New Plus icon. 
  2. Under Money Out (if you’re in Business view), or Other (if you’re in Accountant view), tap Pay down credit card.
  3. Choose the credit card you made the payment.
  4. Enter the payment amount and the date of the payment.
  5. Choose the bank account you paid the credit card with.
  6. If you made a payment with a check, tap I made a payment with a check. In the Check no. field, enter the check number, or if you paid electronically, enter the EFT number.
  7. If you want to add notes or file attachments, select Memo and Attachments and follow the instructions on the screen.
  8. Press Save and Close.

 

If you made a credit card payment using a check, you can record it in QuickBooks by creating a check. Here's how: 

 

  1. Click the + New Plus icon. 
  2. Under Vendors, choose Check.
  3. In the Payee field, choose the (Vendors name) for the credit card payment.
  4. In the Bank Account field, select the account from which the payment will be made.
  5. Enter a Mailing address and select a Payment date.
  6. In the Check no. field, enter the check number, or If paid electronically, type the EFT.
  7. Uncheck Print Later if the check was already issued.
  8. Enter the Category details, a payment amount, a description, and an amount.
  9. Enter notes under Memo.
  10. Press Save and Close.

 

You can check out this article for the steps and details: Record your payments to credit cards in QuickBooks Online. If you are referring to CC expenses, we can create a regular expense. Then, select the CC account used, and the expense category of the transaction under Category Details. Here's an article you can refer to for more details about recording expenses: Enter and manage expenses in QuickBooks Online.

 

For additional hints while working with QBO, you can also open the topics from this article: Find help articles for QuickBooks Online.

 

If you have other questions about how to handle your company with QBO, please click the Reply button below. I'll be right here to provide additional assistance. Keep safe!