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usertom
Oct 13, 2020 2:02 PM UTC
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Bought things from personal account and logged as expenses and principal loan for the business, now paying it back to, the expenses are doubling ? Please help

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GeorgiaCAnswer
Oct 13, 2020 2:40 PM UTC

Hi usertom, 

 

Can we check how you originally recorded this and the steps you have taken since - if you initially entered an expense transaction using the personal account as the payment account, you can then create a transfer (+ New > Transfer) to record paying this back, e.g. a transfer from the loan account to the personal account. 

 

Thanks 🙂

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3 replies

GeorgiaCAnswer
Oct 13, 2020 2:40 PM UTC

Hi usertom, 

 

Can we check how you originally recorded this and the steps you have taken since - if you initially entered an expense transaction using the personal account as the payment account, you can then create a transfer (+ New > Transfer) to record paying this back, e.g. a transfer from the loan account to the personal account. 

 

Thanks 🙂

usertomAuthor
Oct 13, 2020 7:26 PM UTC

Hey,

 
Thanks, that’s exactly what I did 😊
 
So, what I’ve been doing now is categorising the payments back to the personal account as expenses against the loan, 
 
so on the chart of accounts the short term liabilities loan figure is coming down to zero which is great but the then the expenses will still be double, so I need to unwind a few things to stop the double counting ?
 
Also I could do with some advice on another issue, I’m trying to reconcile September but there is a difference of £107.50 which is because I made a mistake and changed a deposit from my card reader provider so it shows amount £107.50 but received is £0 so I am out £107.50 on reconciliation, when I click the the words “your account is out, we can help to fix it” on the reconciliation screen it takes me to the payment, I click view but then says “an unknown error has occurred” and won’t let me change it, any help on this would be hugely appreciated 
ShiellaGraceA
Oct 13, 2020 8:53 PM UTC

Thanks for getting back to us here, @usertom.

 

I have some information about recording personal expense payments and the reconciliation error. For your expense, you can follow these steps below on how to pay it with personal funds. Here's how.

 

  1. Record the business expense you paid for with personal funds using Journal Entry.
  2. Reimburse the money either creating an Expense or writing a Cheque.

Please check out this guide for more information: Pay for business expenses with personal funds.

 

About the reconciliation error, it's a good idea to perform the basic troubleshooting steps to fix it. This is to check if it has something to do with the browser. Let's open your account via a private browser. Let me walk you through how.

 

  • Press CTRL+SHIFT+N for Chrome.
  • Hold CTRL+SHIFT+P for Firefox.

After that, go back to the reconciliation page. If it's working fine, you can clear the cache of your browser to start in clean slate. Doing this process will help repair damage data of your browser that's causing issues like the one in your reconciliation page.

 

If you're getting the same result, please contact our Customer Care Support so we can further investigate. I'm also adding this handy article about fixing issues when you're reconciling accounts in case you encounter other issues. It has step-by-step instructions that'll help you in resolving them.

 

Please don't hesitate to reply to me anytime if you still have concerns or questions. I'll be happy to answer them for you. Take case and have a good day.

 

 

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