How do I process a receipt that I paid for with my personal credit card? Can I create an expense and then pay myself back out of petty cash or undeposited funds?

Yes, @Joanna11_2. You can use the petty cash fund to reimburse the receipt paid through your credit card. As long as it is for business use and not for personal purposes, you can do this in QuickBooks Online.

First, we need to create a Journal to record the business expense paid with personal funds. Whenever you do the Journal, you need to enter on the debit side the expense account and on the credit side the Owner's equity. Furthermore, if you record the journal entry already, we can move on to the next step in the reimbursement process. Refer to this article for more insights: Pay for business expenses with personal funds.

Also, a petty Cash Fund provides convenience for small transactions. Nevertheless, if the transaction amount is bigger than the petty cash fund amount, it would be better to create an expense or cheque for it.

Additionally, if you need insight into utilizing the petty cash fund, here are a few tips for managing and tracking it: Set up and use petty cash in QuickBooks Online.

Know that we are always ready to drop you in the right direction. Have a blissful day.