Whenever an owner pays for something for the business with personal funds, this is usually categorized as an Owner's Investment which is also called Owner's Equity, Owner Contribution, Contributing Capital or Owner's Deposit. You will also track Owner Draws or Owner Pay & Personal Expense under a separate account.  If you have more than one partner or LLC member you would create separate accounts for each in the Chart of Accounts to track contributions and draws accordingly.

The Right Way

Step 1: Setup Owner Investment Account 

Step 2: Setup Owner's Draw Account 

The Shortcut

Follow the prompts to add the accounts as you go

Typically when you are reviewing imported credit card transactions the payments will show as transfers. Since you do not have an account in QBO to transfer funds from you will change the transaction type.

Change the Transfer to a transaction by clicking Add

Vendor: You will add yourself as a vendor if you have not already completed the steps above

Category: Owner's Investment 

Click add

Voila

If you are entering an expense that you have paid with funds from a personal account you can use this same concept. Enter the expense as you would normally. On the second line put the expense under the Owner Investment Category and make the amount negative. 

See Also

Mixing Business & Personal Funds

Pay for Business Expense with Personal Funds

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