Question
I own company. friend use their own money to buy items for business. This person not part of company. i reimbursed expenses(e-transferred) no invoice. how to record?
Hello
I have a question i am hoping someone can clarify the correct way to record this following scenario in Quickbooks online.
I own a company and normally all expenses go through my business account.
My partner had used their own personal money to purchase a bunch of things for the company that was required and paid bills. This persons name in no way at all a shareholder or connected to the company.
Now i need to reimburse them for those expenses so i e-transferred them the total amount of all those expenses at once.
What is the correct way to record this payment to them?
Recording it as an expense to a person doesn't seem right as they are not a company or provided me an invoice.
I have all the receipts of what they had purchased though.
Step by step and explanation is appreciated!!
Thank you.
I have a question i am hoping someone can clarify the correct way to record this following scenario in Quickbooks online.
I own a company and normally all expenses go through my business account.
My partner had used their own personal money to purchase a bunch of things for the company that was required and paid bills. This persons name in no way at all a shareholder or connected to the company.
Now i need to reimburse them for those expenses so i e-transferred them the total amount of all those expenses at once.
What is the correct way to record this payment to them?
Recording it as an expense to a person doesn't seem right as they are not a company or provided me an invoice.
I have all the receipts of what they had purchased though.
Step by step and explanation is appreciated!!
Thank you.
