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cynthiatreffer
March 11, 2023
Question

Recording business expenses purchased with personal funds

  • March 11, 2023
  • 1 reply
  • 0 views

Is there a way to record business expenses purchased with personal funds in a QBO account that weren't reimbursed technically by the business? I was thinking a journal entry, but then I looked it up and step 2 after the journal entry is recording the reimbursement for that expense, and then categorizing it as an expense. Is the journal entry not enough to get it in there correctly without messing up reconciliations or the bank register?

1 reply

A
Amanda-B
March 11, 2023

Hey there cynthiatreffer,

 

Welcome to the QuickBooks Community! Thanks for reaching out to us here.  Making sure you're recording your transactions properly is an essential step for maintaining clean books. I would be happy to point you in the right direction.


To ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice on creating these types of transactions. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. You can add your accountant to your books by going to the My Accountant tab of your QuickBooks account. You can also find an accountant that has experience using QuickBooks near you by clicking on the Find a pro to help option in that section.


If you have any other questions, feel free to reach out here

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