Ask Experts Questions for FREE Help !
Ask
    britnianderson9's Avatar
    britnianderson9 Posts: 1, Reputation: 1
    New Member
     
    #1

    Nov 21, 2013, 12:06 PM
    Business supplies purchased with personal account?
    I am new at this and the owner of the small business I work for sometimes purchases supplies and materials with his own person credit or debit card, and not the business account linked to QuickBooks. He still wants these things to be accounted for in QB... how do I enter them in without messing up the balances? Do I just have to tell him to stop doing it?
    cdad's Avatar
    cdad Posts: 12,700, Reputation: 1438
    Internet Research Expert
     
    #2

    Nov 21, 2013, 03:59 PM
    Adjust the purchases and have the money paid from the account you need it to come from.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #3

    Nov 21, 2013, 04:30 PM
    I would reimburse him through your cash account.

    Your entry would be to Debit Supplies(or an appropriate account) and Credit Cash.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accounting -Business Purchased supplies [ 1 Answers ]

Your business purchased supplies of $2,500 on account . The journal entry to record this transaction as follows, is it A,B, C or D?? A. Inventory Accounts payable B. Accounts payable supplies C. Supplies Accounts receivable D. Supplies Accounts payable

Purchased supplies on account $50? Would this be considered in accounting? [ 1 Answers ]

Would I credit accounts payable and credit supplies? Help please

How To Post Transfers from Business Account to Personal Account [ 1 Answers ]

I am new to accounting. My husbands business partner (who only worked the first few weeks of last year) transferred $20,000.00 from the business account into his own personal account in December. He did transfer back half. How do I post this using peachtree accounting?

Who do I account for depositing personal funds into my business account? [ 2 Answers ]

I have been in business for over 7 years. Over the past year I have had to stay afloat by transferring money from my personal account to my business account. I have reimbursed myself for most of the money. I am uncertain on how to reflect this in my books. Any advice?

Personal and business account [ 3 Answers ]

If they freeze a personal account(due to a personal credit card), can they freeze a business account? Not related to the debt


View more questions Search