Hi! We really appreciate your time and knowledge. We're having a hard time reconciling our credit card account. If I used a personal CC for a bill and it was entered as a payment from the business, how do I reconcile those charges? What do I change? Thanks so much for the help!
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There’s no way to reconcile business expenses paid with a personal checking or credit card account so avoid it as much as possible. You can enter the charges as a journal entry (in the Company menu). Debit the expense account, credit an owner’s equity account. Most CPA’s like to see it like this:
This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth is the president of The QB Specialists, an Intuit Premier Reseller that offers huge savings and expert advice on QuickBooks POS and QuickBooks Enterprise. She is an Advanced Certified QuickBooks ProAdvisor and a member of Intuit’s Trainer/Writer Network. She is also certified in QuickBooks POS and QuickBooks Enterprise and has provided expert QuickBooks help to thousands of businesses all over the world since 1996.
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