How do you record taxes from business expenses paid with personal funds?

hi userlaura-lorca-d

The taxes on the receipt can still be recorded as HST/GST/PST as appropriate.

I've been using the receipts feature in quickbooks to snap receipts of expenses, then recording it as a bill payable to myself as a vendor, performing a payout on a scheduled basis (monthly/quarterly).

Hey there laura-lorca-d,

It looks like lashedlifter got you started with some advice about recording the sales tax for transactions where you used personal funds on business expenses. I wanted to also take a moment to make sure you had the steps for recording these transactions in your books so that you can get started with this.

At QuickBooks, we recommend keeping business and personal funds separate, but we know that there a various reasons they might be mixed. This is why we have a self-help article just for the occasion: Pay for business expenses with personal funds. The article takes you step by step through recording the transactions, although it doesn't have recommendations for how to record the taxes. That's where Community input can come in handy.

If you're still not feeling certain, an accountant would be a great asset to consider. They're trained and knowledgeable in best practices for sales tax and other accounting scenarios. The My Accountant tab in your QuickBooks Online account is how you can connect with someone right in the program. There's a field to invite someone you're already working with via email so they can become a user on your account, or you can make use of the Find a pro to help button to locate a QuickBooks-savvy accountant near you.

I hope this helps you get back on track! Take care.