personal credit card used for business

Hello Kmbrlee,
 

In QuickBooks Online (QBO), it’s best to keep business and personal credit cards separate. Mixing personal and business expenses on the same card creates additional work, as you’ll need to sort and separate transactions, making bookkeeping more complicated and time-consuming.

Importing a personal card is not recommended. It's best to keep your checking and credit card accounts dedicated solely to business use. However, if your son uses his personal cards to pay for his business, then you need to record them manually in his QBO account.

Here’s how:
 

1. Go to the + Create icon, then select Expense.
2. Select the appropriate Category for the expense(s).
3. On the next line, you can select Owner investments.
   Note: You may also have Shareholder’s equity/investments or Partner investments. Consult your accountant if you’re not sure which account to use.
4. Enter the same purchase amount in the Amount column. Make sure the total is $0.00.
5. Select Save and close.
    

Next, you can record the reimbursement if necessary. Wait for the reimbursement to appear in your bank feed, then categorize it under the same Owner investment (or similar) account used for the purchase.

Here’s how:
 

1. Hover over the + Create icon.
2. Select Check.
3. Choose a bank account to reimburse personal funds.
4. In the Category column, select the same Owner investment (or similar) account used for the purchase.
5. Enter the reimbursement amount.
6. Select Save and close.

For more detailed information, you can refer to this article: Pay for business expenses with personal funds.

For more help, just click Reply and let us know.