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Jun 8, 2022 2:30 PM UTC
Question

Accidentally paid monthly credit card bill on personal credit card from business account

I made the payment through bill pay so right now its a transfer from business account to the personal credit card.  I need to send the money back to the business account from my personal bank account (preferred to do as a bank transfer).  How do I categorize the original payment in QB online, and then how do I categorize the transfer of the money bak into the business account.   If it matters this is an LLC (just wife and I) being taxed as an S-corp.

 

Should I just do the payment as an owner draw and the reimbursement as an owner investment or does his cause tax problems

4 replies

Jun 8, 2022 4:58 PM UTC

Hello Flashnc1, 

 

Welcome to the Community page, 

 

So you can leave the payment on the personal account and just make sure to create a transfer from the personal account where the payment should be taken from. 

 

Flashnc1Author
Jun 8, 2022 9:21 PM UTC

but, how do I categorize it in QB

Jul 13, 2022 12:10 PM UTC

I have the same issue and am looking for some assistance as to how to correct it in QB