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Categorising a credit card repayment

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Hi

If I use my credit card to buy say £100 worth of stock, thats business expense. But if I then pay that £100 off my credit card from my current account, what should that payment come under?

TIA

QuickBooks Self-Employed

Kristine MaeAnswer

Actually, looking at it, I dont have transfers:credit card payment, I have either 'transfers' or 'credit card payment'. two seperate categories

Let's get your questions sorted out, Allante666.

Regarding the type, you're right. You'll use Business if it's used for business purposes, then use Personal for personal usage.

Now, for the categorisation, you'll have to use Credit Card Payment.

I'm just around if you have additional questions. You can tag me, and I'll reply to you as soon as I can.

Kristine Mae

I'll help you categorise the transaction, Allante666.

You can use Transfers: Credit Card Payment as the category when paying a credit card.

You might want to create rules to easily categorise transactions.

Click the Reply button if you need more of our help. Feel free to reach out to us anytime.

A

Allante666Author

Many thanks for that.
Im sure Ill have a lot more category based questions!

@Kristine Mae wrote:
I'll help you categorise the transaction, Allante666.

You use Transfers: Credit Card Payment as the category when paying a credit card.

You might want to create rules to easily categorise transactions.

Click the Reply button if you need more of our help. Feel free to reach out to us anytime.

A

Allante666Author

Actually, looking at it, I dont have transfers:credit card payment, I have either 'transfers' or 'credit card payment'. two seperate categories

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