Reimbursement blunder? from my business checking to a personal cc
Last year I accidentally paid for a business purchase with my BoA visa card. When I went to reimburse myself I transferred money from the business checking (also at BoA) account directly to the card.
Now it shows up in my ledgers as a transfer.
I probably should have just drawn money as the reimbursement and feel 99% sure that I should not add my personal cc as a vendor in order to “pay” it.
Any suggestions on how to fix this.
My company is an llc partnership filing as an S-corp
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Based on what you have described I believe your books are fine. It sounds like you paid for a business expense with your personal credit card and you correctly transferred funds from the business checking account to “reimburse” yourself by paying the personal credit card. As long as you don’t add the personal credit card to your QuickBooks file, I would absolutely set up the personal credit card as the vendor that you paid. In the memo section just put reimbursement of business expense paid with personal credit card or something like that.
Finally, make sure that the account reflects what was purchased (i.e. office supplies, equipment purchase etc)
If I got this wrong, just reach back out and let me know what I missed.
All the Best-