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FiJubb's avatar
FiJubb
Member
6 years ago
Solved

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?
  • Tracey_H's avatar
    Tracey_H
    6 years ago

    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.

Tracey_H's avatar
Tracey_H
Former Staff
6 years ago

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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