Personal Credit Card

Thank you for selecting QuickBooks as your partner in managing your business operations, @Personal Credit Card 12. It's our pleasure to provide the information you need.

You need to track the expenses paid by personal funds and the reimbursement correctly to get accurate balances and easy reconciliation. I'm here to guide you through the process.

To get started, you can record the business credit card bill you paid for with personal funds by creating journal entries.

1. In QuickBooks Desktop (QBDT), go to the Company menu at the top to get to the Make General Journal Entries.
2. Pick the appropriate expense account in the first Account column.
3. In the Debit column, type in the amount of the transaction.
4. You can select the customer from the Name drop-down.
5. On the second line, choose Partner's equity or Owner's equity.
6. Enter the same amount in the Credits column.
7. Hit Save and Close.

Then, enter a check or an expense transaction to reimburse the amount.

1. Go to the Banking menu at the top of the screen to get to the Write Checks.
2. Select the business bank account in the BANK ACCOUNT field.
3. Enter the necessary details and go to the Expenses tab.
4. Enter the Partner's equity or Owner's equity in the ACCOUNT column.
5. Enter the amount you want to reimburse.
6. Tick Save & Close.

On the other hand, you can record a deposit when reimbursing personal expenses paid from a business credit card or bank account.

1. Go to the Banking page.
2. Tap on Make Deposits.
3. Select the account to add the reimbursement from the Deposit To dropdown, then input the Date.
4. In the Received From field, enter the person who made the personal expense, then select the account. You can add the person as a customer if they aren't in your books already. Even if they're not a customer, this is the best option.
5. Select the Payment Method, then enter the reimbursement amount.
6. Tap on Save and Close.

If you're looking for additional guidance on managing your personal and business expenses, you may consider browsing through these articles on QuickBooks Online (which also apply to QuickBooks Desktop):

• Mixing business and personal funds
• Pay for business expenses with personal funds
• Pay for personal expenses from a business credit card or bank account

If you have any other follow-up questions about recording your business and personal expenses, let me know by adding a comment below. I'm more than happy to help. Cheers for more success!