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September 29, 2022
Question

Payment made from my personal account

  • September 29, 2022
  • 1 reply
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I made a payment for a bill from my personal card. How do I record this in Quickbooks and how do I then record the payment back to my personal account?

1 reply

September 29, 2022

Hello, Deborah31.

 

I share details information on how you can record the payment made using your personal account in QuickBooks. 

 

You can record the expenses using a journal entry and use equity accounts since they were paid using your personal funds. Select the expense account for the purchase and enter the amount in the Debits column. On the second line, select Partner's equity or Owner's equity and the same amount on the Credits column. Then, tap Save and close.  

 

I would highly suggest consulting with your accountant. This way, we can ensure that you enter the transactions accurately and avoid data messing up with your accounts.

 

Here's an article with the detailed steps for you to follow: Pay for business expenses with personal funds.  

 

Let me know in the comment section if you have any other concerns or further questions. I'll be around to help.