How to record a phone purchase used with personal funds

Hi there, byankton.

I appreciate you providing thorough details about your concern. When it comes to your business transactions, it is not advised to combine personal and corporate funds.

I will guide you through the process of recording and reimbursing expenses for a phone purchase made on your credit card.

Here's how:

Step 1: Record the business expense you paid for with personal funds

1. Select + New.
2. Select Journal Entry.
3. On the first line, select the expense account for the purchase.
4. Enter the purchase amount in the Debits column.
5. On the second line, select Partner's equity or Owner's equity.
6. Enter the same purchase amount in the Credits column.
7. Select Save and Close.

For step 2 click this link learn how to decide how you want to reimburse the money.

For additional reference, you can click this article on how to run reports in QuickBooks Online.

I'll be around to help if you have any other questions on how to record transactions in QuickBooks. Just let me know by leaving a reply below. Wishing you and your business continued success!

@byankton 

Another option, you can signup for a free Melio account to integrate with QBO. You can reimburse the expense from your business account to your personal account.

https://affiliates.meliopayments.com/quickbooks

You can also get a cashback. Make sure to click the Get $100 cashback button to proceed.

https://affiliates.meliopayments.com/cashback