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Old 10-12-2015, 09:30 PM
Beetlejuice Beetlejuice is offline
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Join Date: Oct 2015
Posts: 3
Help with labeling a transaction

I have made a payment to a business credit card from a personal account. How do i log this in QB?

I am unable to reconcile a credit card due to payment to card being made from a personal account.
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Old 10-16-2015, 09:45 PM
Lorin Browning Lorin Browning is offline
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Join Date: Apr 2004
Location: Landrum SC
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Two steps general journal entries are required: (1) One for getting the money into the business and (2) an other for showing the money was used to pay the credit card bill.

(1) Assuming that the business is a sole proprietorship, you cannot lend money to your self. Hence there is no payable to record. Instead, it is an additional investment on your part. Simply credit the amount to an equity account and debit the amount to a new account which you treat as any other bank account.

(2) To show payment of bill, debit the amount paid to credit card and credit amount to the bank account.
Lorin Browning, Ph. D.
Fellow -- National Tax Practice Institute

Last edited by Lorin Browning; 03-23-2016 at 01:13 PM.
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