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  #1  
Old 04-11-2017, 11:33 PM
Buckles Buckles is offline
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Join Date: Apr 2017
Posts: 2
How to use my personal visa and get reimbursed

I don't like a lot of credit cards hanging around, and would like to use my personal Visa to make purchases for my business and for personal use. At the end of the month I write one check from my personal account to pay the statement amount and then get reimbursed from the company for any business purchases made with the Visa card.

How do I set up accounts and complete the transactions.

1. Set of Visa card charges account that will be paid with my personal checking account.

2. Set up an account that is for keeping tract of Payable's Due to Owner.
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  #2  
Old 04-12-2017, 05:32 AM
Rustler Rustler is offline
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Location: Texas - The Republic
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Create a dummy Credit Card type account named for yourself - do NOT enable it for online anything

When you pay an expense with your personal card, use enter CC charges on the dummy CC, and enter that transaction

When you write a check to pay yourself back, use that dummy CC account as the expense for the check.

or if cash flow is tight, use equity investment as the expense for the check
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  #3  
Old 04-12-2017, 10:51 AM
Froid Froid is offline
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Join Date: Feb 2017
Location: Southern California
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I'd probably just do the tried-n-true method of submitting an expense report. You become an A/P vendor and process your expenses as often as you like. Attach all receipts and code it out to the proper G/L accts.
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  #4  
Old 04-13-2017, 10:15 AM
BooksInVA BooksInVA is offline
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Bill it. Our employees pay for it, give up the receipt, we put it in as a bill to them, and pay it. I think the dummy cc method is a little more complicated than it needs to be and more likely to cause some issue down the line.
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  #5  
Old 04-13-2017, 12:25 PM
Buckles Buckles is offline
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Dummy Account

Please explain what Dummy Account is. I'm not sure how to go about this
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  #6  
Old 04-13-2017, 12:36 PM
BooksInVA BooksInVA is offline
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Don't use that method. Just enter as a bill from a vendor, vendor name = your name.
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  #7  
Old 04-13-2017, 01:17 PM
innovativebk innovativebk is offline
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I vote for the bill method as well.
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