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November 25, 2021
Question

Show Purchases made from personal account

  • November 25, 2021
  • 1 reply
  • 4 views

As the owner of a corporation, I purchased new office equipment needed for the business. However, I paid for the items using my personal credit card.  How do record this in QB?

1 reply

LeithG
Level 2
November 25, 2021

Hi JayLo

 

When recording items purchased for the business on your personal card, you simply record the asset (equipment), and an Accounts Payable setting yourself up as a supplier.  Alternatively, this can be added as an 'owner investment' under the owner's equity section of the balance sheet if you don't plan on having the business reimburse you for the expense.