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March 14, 2023
Question

How do I show an expense which is a petrol receipt that was paid from an account not linked to quickbooks that needs to be shown in my business?

  • March 14, 2023
  • 1 reply
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So I  paid for petrol using my personal account by accident, as a sole trader it doesnt' necessarily matter where I paid it from but I need to show in quickbooks that the petrol was purchased for our business.  The bank account is not linked how do I show this?

1 reply

March 14, 2023

Hello Tawny0900-gmail- 

 

Welcome to the Community page,

 

So if you have uploaded the receipt you just need the other account on the system to say where it was paid from, so you don’t need a live connection, just an open balance to on the balance sheet it does not show as a minus amount, so you don’t need to import the transaction in to match it as then it will show on your main banking screen. What you can do is if you have a petty cash account record it there and  if you take any money out of an atm just post it to that account, you don't need to import the transaction you just need to set up the account from whatever date, you don't need to connect it to QBO what so ever you should however  enter in an opening balance  then you just post the expense from that bank account and when you put the money back into your account just do a bank transfer for business account to personal account, it only needs to be matched on one side. As we are not trained accountants you can get this all clarified by your accountant.