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Melanie G
July 13, 2020
Solved

Used business credit card for personal purchase

  • July 13, 2020
  • 2 replies
  • 0 views

Hello,


I used my business credit card (connected to QB) to purchase a personal item.
On 12/13/20, I recorded the transaction in the business credit card by entering $967.68 as a charge using the category of Expense Owner's Pay & Personal Expenses.

 

I made three payments to pay off the amount charged on 12/13.

 

When I made the payments to the credit card, I wrote checks from my personal checking account which is not connected to QB.

How should I now record these payments, or is there a way to make an adjustment transaction to get my business credit card to reconcile?

 

I realize that a better way to do it would be to deposit the amount of the payment from my personal checking account into the business checking account, and then making the payment to the credit card from the business checking account.

I'm using QB Online for Mac.  iOS Mojave 10.14.5

Thank you

 

 

 

 

Best answer by john-pero

The original charge on the business account was owner draw equity. Payment with personal funds of the now business obligation is owner contribution equity

2 replies

john-pero
john-peroAnswer
July 13, 2020

The original charge on the business account was owner draw equity. Payment with personal funds of the now business obligation is owner contribution equity

    M
    Melanie GAuthor
    July 13, 2020

    Thank you john-pero.

    I think this is going to work.  I have entered the payment transactions, and am going to try to reconcile the credit card account now.

    Thanks so much.

    P
    Pam2531
    March 26, 2024

    We canceled the online account last year March 2023. Then in December 2023 they started deducting it out of my account. So December 2023 + January 2024 + February 2024 + March 2023 at $ 96.56 each time.

    I went to fill out the page to get paid back but it only goes back for 60 days???

    I didn't ask for this service or say go ahead and deduct off my card and will be cheated out of 2 payments and hopefully 2 payments reimbursed???.

    What can I do??? They should not be allowed to deduct what they want.

    I
    IrizA
    March 26, 2024

    I appreciate you bringing this matter to our attention, Pam2531. 

     

    Before we begin, please verify first if it came from Intuit. If you confirm that the deduction was made by QuickBooks Online (QBO), we recommend that you reach out to our support team to investigate the charges and determine why they are being deducted from your account. Our support team will be there to assist you in resolving any issues related to these charges. 

     

    You can also navigate to this material to know when the best time is to call our support: QuickBooks Online Support. 

     

    Always remember that you can reactivate your QuickBooks Online account. This resource provides detailed instructions on how to do so.: Resubscribe to or reactivate QuickBooks Online. 

     

    Keep us posted if there's anything else you'd like to ask us, and we'll make sure to help you in any way we can. 

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