I've got your back, @Bookkeeping Mom.
In QuickBooks, we do not recommend mixing business and personal funds to avoid situations like this. However, since your son already used his personal bank account to pay for business expenses, you'll want to create a journal entry to record it in QuickBooks. Here's how:
- Click the + New button, then select Journal entry.
- In the first line, select the expense account for the purchase. Then, enter the amount under the Debits column.
- On the second line, select Partner's equity or Owner's equity. Then, enter the same purchase amount in the Credits column.
- Click Save and close.
Once done, you'll have to reimburse the personal expense by entering a check or an expense transaction. Let me guide you how.
- Click the + New button, then select either Check or Expense.
- Select a bank account to use to reimburse the personal funds.
- In the category column, select partner's equity or owner's equity.
- Enter the amount of the reimbursement.
- Click Save and close.
Most importantly, I still encourage seeking help from your accountant for more guidance.
I'm adding these articles for more details:
Please let me know if you need clarification about this, or there's anything else I can do for you. I'll be standing by for your response. Have a great day.
