Return a business expense paid on my personal credit card.

Indebele

Hi folks, I'm new here.

I would like to know how to track my business expenses that have been paid via my personal credit card. Often when I am making a purchase from a large department store, a few of the items may be for my business. Is there a way that Quicken Classic Business & Personal can track how much my business needs to pay me back?

Thanks for helping me with this.

Indebele.

splasher

Make the transaction from the department store a split and apply the appropriate category and tag to the amount(s) that are business related.

volvogirl

Do you use Tags for anything? I would add a tag on the credit card transactions like "business exp". Then you can run a report on just the credit card account and tag. How are you paying it back from the business? Do you have a business bank account? Then when you pay yourself back put that tag on that transaction too.

BUT, if you are filing the business on schedule C in your personal tax return it is a disregarded entity and the net profit or loss is yours personally. So you don't really have to track how you paid the expenses.