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Old 01-26-2005, 02:00 PM
cman cman is offline
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Join Date: Sep 2004
Location: Midwest USA
Posts: 14
How to expense part of cell phone bill paid out my personal checking account.

I have pro 2005. I am on cash basis and sole prop.

Trying to determine how I would enter a cell phone bill in QB.
I have two cell phones on the bill. One part of the bill is for the first cell phone for my wifes personal use and the 2nd cell phone I use for the business. I pay all the bill out of our persnaol checking account.

How do I enter the 2nd cell phone part of the bill in QB?
I think I can just enter it as a phone expense but do I enter another type of transaction to show that amount of money doesn't get deducted from the business cash?
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Old 01-26-2005, 02:37 PM
LinkyH LinkyH is offline
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Join Date: Sep 2004
Location: CT
Posts: 218
No you cannot create another transaction that will not limit the deduction in business cash.
The easiest thing to do is to write yourself a check expensing to the phone expense account.
This is a slippery slope so make sure that you document it well.

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Old 02-24-2005, 01:52 PM
bright_ideas bright_ideas is offline
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Join Date: Jan 2003
Location: Edmonton, Alberta
Posts: 286
Do you have an Owners drawing account set up?

If you were to pay for the cell phone bill out of your personal account you could then create a journal entry in your business account that would debit your phone account for the business portion and credit your owners draw account. This will not take anything from your banking account and at year end will indicate expenses paid out of pocket for the business.

If you were to pay the whole cell phone bill out of the business account. You would write a cheque and apply the business portion to your phone account and the personal (wifes portion) to the onwers draw account. This would then refect monies you drew out of your company for personal use.

I hope this is of help.
Sandra Holden
bright Ideas

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