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FiJubb's avatar
FiJubb
5 years ago
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Accidentally paid business expense on personal credit card

Hi

I recently paid for our Business PO Box on my personal credit card.  How do I now account for this in MYOB?  I do not run a petty cash account.  Unsure how to process?

  • CloverQ's avatar
    CloverQ
    4 years ago

    Hi MJ7 

     

    In this case, please record the invoice payments manually - receive the exact invoice amounts for 2 of the invoices, then record all the remaining amount to the 3rd invoice, which will result a customer return created automatically for the overpayment. Then you can go to Sales > Customer returns to refund this overpayment.

     

    After that, you shall be able to match the bank transaction of $12636.14 to the 3 invoice payments, and the refund bank transaction to the customer refund transaction as well. 

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    5 years ago
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    Hi FiJubb 

     

    Thanks for your post. If the business is going to reimburse you, I would record a Spend Money transaction and make the Pay From Account a suspense/clearing type account and allocate the amount to the applicable expense account. Then record a Transfer Money transaction with the Transfer Money From account as the bank account and the Transfer Money To as the suspense/clearing account.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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Hi

I recently paid for our Business PO Box on my personal credit card.  How do I now account for this in MYOB?  I do not run a petty cash account.  Unsure how to process?

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Hi

I recently paid for our Business PO Box on my personal credit card.  How do I now account for this in MYOB?  I do not run a petty cash account.  Unsure how to process?

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Accidentally paid business expense on personal credit card","moderationData":{"__ref":"ModerationData:moderation_data:644995"},"body":"

Hi FiJubb 

\n

 

\n

Thanks for your post. If the business is going to reimburse you, I would record a Spend Money transaction and make the Pay From Account a suspense/clearing type account and allocate the amount to the applicable expense account. Then record a Transfer Money transaction with the Transfer Money From account as the bank account and the Transfer Money To as the suspense/clearing account.

\n

 

\n

Please let me know if you need further help.

\n

 

\n

If my response has answered your enquiry please click \"Accept as Solution\" to assist other users find this information.

","body@stripHtml({\"removeProcessingText\":false,\"removeSpoilerMarkup\":false,\"removeTocMarkup\":false,\"truncateLength\":200})@stringLength":"218","kudosSumWeight":1,"repliesCount":0,"postTime":"2020-04-29T17:55:13.008+10:00","lastPublishTime":"2020-04-29T17:55:13.008+10:00","solution":true,"metrics":{"__typename":"MessageMetrics","views":1947},"visibilityScope":"PUBLIC","placeholder":false,"originalMessageForPlaceholder":null,"isEscalated":null,"entityType":"FORUM_REPLY","eventPath":"category:AccountRight/category:Support/community:myobboard:ARBanking/message:644443/message:644995","replies":{"__typename":"MessageConnection","pageInfo":{"__typename":"PageInfo","hasNextPage":false,"endCursor":null,"hasPreviousPage":false,"startCursor":null},"edges":[]},"customFields":[],"attachments":{"__typename":"AttachmentConnection","edges":[],"pageInfo":{"__typename":"PageInfo","hasNextPage":false,"endCursor":null,"hasPreviousPage":false,"startCursor":null}},"readOnly":true,"editFrozen":false,"body@stringLength":"837","rawBody":"

Hi  

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\n

Thanks for your post. If the business is going to reimburse you, I would record a Spend Money transaction and make the Pay From Account a suspense/clearing type account and allocate the amount to the applicable expense account. Then record a Transfer Money transaction with the Transfer Money From account as the bank account and the Transfer Money To as the suspense/clearing account.

\n

 

\n

Please let me know if you need further help.

\n

 

\n

If my response has answered your enquiry please click \"Accept as Solution\" to assist other users find this information.

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