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JayLo
November 25, 2021
Question

Show Purchases made from personal account

  • November 25, 2021
  • 1 reply
  • 0 views

As the owner of a corporation, I purchased new office equipment needed for the business. However, I paid for the items using my personal credit card.  How do record this in QB?

1 reply

LeithG
LeithG
November 25, 2021

Hi JayLo

 

When recording items purchased for the business on your personal card, you simply record the asset (equipment), and an Accounts Payable setting yourself up as a supplier.  Alternatively, this can be added as an 'owner investment' under the owner's equity section of the balance sheet if you don't plan on having the business reimburse you for the expense.

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