The best way to learn QuickBooks, accounting and bookkeeping
I got a couple of email questions about using credit cards so I thought that would be a good topic for this week. It’s very similar to the process of entering bills and the credit card account can be thought of as another accounts payable account. You enter all of your credit card transactions and can then reconcile your QuickBooks against the credit card statement to make sure you haven’t missed anything.
This post was written by Michael Debyah.
I got 2 questions this past week both asking about the same issue – how to account for expenses that get paid by the owner out of his/her own pocket. It’s fairly common for a small business to not have a lot of money in the bank during the start up phase and the owner tends to pay for business expenses on their personal credit cards. You want to make sure that you get these expenses recorded on the company books and show that the company owes the money back to the owner. I go over how to record this in QuickBooks and how to record the check when the company finally pays that money back.
This post was written by Michael Debyah.
Hi there! I'm Mike. I am a CPA and an Advanced Certified QuickBooks ProAdvisor. I teach QuickBooks locally in classrooms and do one-on-one training sessions. I created this site so I could extend my teaching to more people and offer them the best support possible.
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