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Using personal card for business expenses

NoobieNoobie Member Posts: 3
Hello,

I currently use my personal credit card to make business purchases which my corp later reimburses me for. Is it better to include all transactions from my credit card on wave and categorize them according to business VS personal or should I only post transactions that are of a business nature?

Regards,
in Accounting Technical Support

Comments

  • BarsinBarsin Member, Moderator Posts: 2,041 ✭✭✭

    Hey there @Noobie

    I've got a good thread you can follow along with to show how to make different types of transactions from your personal to business and vice versa.

    https://community.waveapps.com/discussion/3428/how-to-record-personal-transactions-from-a-business-account/p1

    1. Create a transaction in your business account
    2. Set the account on your transaction to be an owner investment account or feel free to create an equity account called "personal contributions" if you like and use that. The account needs to be from an equity account.
    3. Select the category you want from your list. In my example I selected office supplies.

    Hope this helps!

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