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J
JohnUK
November 14, 2024
Question

Guidance on Submitting Reimbursement Requests in QuickBooks

  • November 14, 2024
  • 2 replies
  • 0 views

I occasionally need to visit a wholesaler to pick up various items that are not part of our standard stock or inventory—such as coffee, tea, and other essentials. Since I pay for these out of my own pocket, I’d like to understand the process for getting reimbursed by the company through QuickBooks. Could you provide guidance on how I submit these expenses, and how to record them in QuickBooks so I can be reimbursed?

Then, what is the best method to reimburse me financially.

 

thank you

 

john 

2 replies

M
Maybelle_S
November 14, 2024

I can help process your reimbursement in QuickBooks Online (QBO), John.

 

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.

 

First, record business expenses paid with personal funds using a journal entry. I can guide you on 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, choose Partner's equity or Owner's equity.
  6. Enter the same purchase amount in the Credits column.
  7. Hit Save and Close.

 

After that, decide how you want to reimburse the money. You can record it as a check or expense.

 

  1. Go to the + New button.
  2. Select Cheque.
  3. In the Category column, Choose Partner's equity or Owner's equity.
  4. Enter the amount to reimburse.
  5. Hit Save and Close.

 

If you want to record it as an expense, you can follow these steps:

 

  1. Go to the + New button.
  2. Select Expense.
  3. Click 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 of the reimbursement.
  6. Select Save and Close.

 

Let me know if you need more help working with your business. I want everything taken care of.

M
Maybelle_S
November 14, 2024

I can help process your reimbursement in QuickBooks Online (QBO), John.

 

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.

 

First, record business expenses paid with personal funds using a journal entry. I can guide you on 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, choose Partner's equity or Owner's equity.
  6. Enter the same purchase amount in the Credits column.
  7. Hit Save and Close.

 

After that, decide how you want to reimburse the money. You can record it as a check or expense.

 

  1. Go to the + New button.
  2. Select Cheque.
  3. In the Category column, Choose Partner's equity or Owner's equity.
  4. Enter the amount to reimburse.
  5. Hit Save and Close.

 

If you want to record it as an expense, you can follow these steps:

 

  1. Go to the + New button.
  2. Select Expense.
  3. Click 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 of the reimbursement.
  6. Select Save and Close.

 

Let me know if you need more help working with your business. I want everything taken care of.

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