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June 12, 2024
Question

Recording credit card payments from Web download bank feed

  • June 12, 2024
  • 1 reply
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So now I'm reconciliating my credit card payments. I should expenses these right? What if some are not expenses, but personal? Can I create a account payable bill and take it from cash/bank?

1 reply

MJoy_D
June 12, 2024

I can help you with recording credit card payments made to personal transactions, @nitsujayyy.

 

As for business expenses paid through a business credit card account, you can record them as Credit Card Charges from the Banking menu. It'll be under Other Current Liability. From here, you can write a check for the payments made before reconciling your accounts. 

 

For personal transactions paid through your business account, you can make a journal entry by debiting the business account and crediting it to the owner's equity account. When you pay the credit card company for the business part, you can record a check against their checking account. Then, use the owner's equity account in the Expenses section.

 

Here's how: 

 

  1. Go to the Banking menu and select Write Checks.
  2. Fill in the necessary information and select the Bank/Credit account you are reimbursing from.
  3. Choose Partner's Equity or Owner's Equity under the Account column.
  4. Enter the amount of the reimbursement.
  5. Click on Save and close.

 

Check the following article for more information about setting up credit card accounts and recording credit card charges: Set up, use, and pay credit card accounts

 

You can always view the deposit history by going to the Reports, then locating the Deposit Detail report, and then clicking the Run icon. For more information, check out this article: Record and make bank deposits in QuickBooks Desktop.

 

Please feel free to post here for any additional questions about personal and business expenses. We're always here to assist. Have a wonderful day!

June 12, 2024

Got it. When I reconciliate with with bank fees it will still work and the business expenses will still record as business expense