Categorize Personal Expense Paid with Business Card In QuickBooks Online

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The Bookkeeping Xperts

The Bookkeeping Xperts

Күн бұрын

Пікірлер: 11
@BoutiqueMediaMarketing
@BoutiqueMediaMarketing 8 ай бұрын
Hi! I did a test with zelle from the business bank account to personal; three times at $1 each. In the bank statement, it should as withdrawal for each $1 that I tested. How could I categorize the three transactions? It has already messep up my reconciled month. I am short $3. Any advise?
@ClaudiaXperts
@ClaudiaXperts 8 ай бұрын
Owner’s equity
@veloxjets3573
@veloxjets3573 Жыл бұрын
Hello, I have done this but the chart of accounts is showing a - balance instead of a + balance. When doing the Journal entry on debit and credit, the chart of account then shows the number x2. What could be wrong?
@ClaudiaXperts
@ClaudiaXperts Жыл бұрын
Not clear on what you mean. But in this video I show how to clear the balance. You may be trying to clear the balance by crediting the credit card. You will need to debit the credit card and debit the equity account to clear the balance.
@ClaudiaXperts
@ClaudiaXperts Жыл бұрын
If the credit card has a negative amount it means it show more payments than charges. In this case you will credit the credit card and debit owner’s equity
@cmvalonso1109
@cmvalonso1109 Жыл бұрын
How you report that owner withdraw income to the owner.
@ClaudiaXperts
@ClaudiaXperts Жыл бұрын
Same Carmen, you can create another Equity account for Owner’s Draw or Owner’s Distribution if you want to track them separately.
@fahimexplorer6210
@fahimexplorer6210 11 ай бұрын
How will I categorize ATM transactions???
@ClaudiaXperts
@ClaudiaXperts 10 ай бұрын
Treat it like cash transactions
@flaviabarbosa3117
@flaviabarbosa3117 Жыл бұрын
How to spread this expenses between partners?
@ClaudiaXperts
@ClaudiaXperts Жыл бұрын
Just create a separate partner’s distribution account to each partner. Such as John’s distribution and another Robert’s distribution. Do the same think for the contribution account remember those are equity accounts.
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