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Globalguru
January 30, 2021
Question

I paid my business credit card with personal funds

  • January 30, 2021
  • 1 reply
  • 0 views

Given the year and lack of business.  I needed to pay my credit card bills with my personal account.  I do not know how to indicate this.  Especially when I download the activity into quick books and where does the money come from do

i record it as a transfer or a payment for credit card?

1 reply

Rustler
Rustler
January 30, 2021

create a cash type bank account called owners

pay the CC with a check, do not print this is data entry, 

then do a deposit to that same bank and use owner equity investment as the source account for the deposit

then download and match

G
GlobalguruAuthor
January 30, 2021

Thank you for your suggestion- question what is the detail type for Bank? Cash on hand or checking?

MaryLandT
MaryLandT
January 30, 2021

Let's help you decide which detail type you need for the bank account, Globalguru.

 

Detail types play an important role in your books. Their job is to help you select and name accounts more appropriately. So, when you run reports like profit and loss, you know exactly what’s making money and what you’re spending it on.

 

You can select a detail type when you create new accounts. Here's a visual guide for you:

 

Learn how Craig’s Design and Landscaping set up their accounts in our test QuickBooks company for great examples of using detail types.

 

I suggest consulting with your accountant first to know which one is best for your bank account. If you don’t one, here's how to find an Accountant near you.

 

Check out added these articles for future guide:

I'm happy to help if there's anything else you need with setting up a bank account in QuickBooks. Just leave a comment below, and I'll get back to you.

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