How can I reimburse myself from the business for expenses I paid for from my personal funds?

Let me help you reimburse yourself for the business expenses you've paid, elitedms-com-au.

You can write a check or enter an expense to reimburse the money. Before you start, make sure to record the business expense first using a journal entry.

Here's how:

1. Click + New, then select Journal Entry.
2. On the first line, select the expense account for the purchase.
3. Enter the purchase amount in the Debits column.
4. On the second line, select Partner's equity or Owner's equity.
5. Enter the same purchase amount in the Credits column.
6. Select Save and close.

Upon sharing this solution, I still recommend consulting your account. They can provide additional information so you know what accounts to debit and credit on the journal.

Once done, you can then reimburse the money by writing a check or entering an expense. Here are the steps you can follow.

1. Click + New.
2. Select Expense.
3. Select a bank account to use to reimburse the personal funds.
4. In the Category column, select Partner's equity or Owner's equity.
5. Enter the amount of the reimbursement.
6. Select Save and close.

While it is not advisable to mix personal and business funds, you may encounter situations that will require you to do so. See the following articles for information about owners or partners mixing business and personal funds.

• How to pay for business expenses with personal funds
• How to pay for personal expenses from a business bank or credit card account

Get back to me if there's anything else by commenting below. I'm always around to help you.