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June 2, 2023
Question

Enter Transactions Not Associated with a Bank Account

  • June 2, 2023
  • 1 reply
  • 0 views

Hello, We are on Quickbooks Online.  My client made some business-related purchases out of their personal bank account. They would like these purchases to be in their business expenses but do not want to reimburse themselves (so no transactions will be in their business bank account for these).  Is there a way to have these transactions show up as expenses, but not be associated with a bank account? Thanks!

1 reply

Rainflurry
June 3, 2023

@EKeough 

 

If the business is a sole proprietorship, make a journal entry: debit the appropriate expense account and credit their Owner's Capital equity account.  If the business is an s-corp, credit their Shareholder Contribution equity account.