How to account for a temp payment made from one account, then reimbursed from a different account.

I paid out $2500 dollars from one checking account to help my son. My son reimbursed me immediately via Zelle, but doesn't have access to the account I used (my rental property checking account), so he xfered it to my personal checking account instead. I, in turn reimbursed the rental account from the checking account my son WAS able to Zelle to (whew!). Here's a blow-by-blow:

Step 1: Account #1 (OUT - from my rental account, -$2500 to my son);
Step 2: Account #2 (IN - into my personal checking account from my son's reimbursement of $2500);
Step 3: Account #1 (IN - my xfer of that $2500 from personal account (#2) back into the rental account (#1).)

I am not sure how to categorize them to show transparency. The original payout was to a merchant about two hours from town, and has a company name attached to it. The reimbursement amount amount was a Zelle xfer, and has no merchant name associated with it. All transactions are now in Quicken, and balance out, but I am not sure how to classify them for transparency in reports, such as taxes, rental cash flow, etc.. I think they should be invisible in reports, that is, not affect any report category balance. I really appreciate any helpful suggestions/solutions!


  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Create a "Receivables" Asset type account.
    When you write the check to your son, use that Receivables account as the category.
    When you receive the reimbursement, ALSO use that Receivables account.  The 2 transactions will net each other out.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • SilverGlider
    SilverGlider Member ✭✭
    Thanks NotACPA - simple, really, once you know it...
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