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Paying back business expenses to my personal credit card
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MrsB2018
Posts: 2 Newbie

Hi there,
My new business launches Monday, these last few weeks I've put a couple of business expenses (things like packaging/ buying my postage machine) on my personal credit card for cashflow purposes. I've recorded them on my Quickbooks as expenses and kept the invoices but how do I take the money from the business account please to pay back the credit card? I'd initially thought I logged into my credit card and made a payment but I don't think you can pay the credit card off from a business (maybe?). I assume I wouldn't pay it myself as a salary as I would then be taxed on that and it's not pay.
Is anyone able to explain this to me in layman's terms please. I'd rather make sure I get all these little things right from the start rather than messing it up and then needing to pay an accountant loads at the end of the year to sort out the mess.
Thanks in advance. Cher.
My new business launches Monday, these last few weeks I've put a couple of business expenses (things like packaging/ buying my postage machine) on my personal credit card for cashflow purposes. I've recorded them on my Quickbooks as expenses and kept the invoices but how do I take the money from the business account please to pay back the credit card? I'd initially thought I logged into my credit card and made a payment but I don't think you can pay the credit card off from a business (maybe?). I assume I wouldn't pay it myself as a salary as I would then be taxed on that and it's not pay.
Is anyone able to explain this to me in layman's terms please. I'd rather make sure I get all these little things right from the start rather than messing it up and then needing to pay an accountant loads at the end of the year to sort out the mess.
Thanks in advance. Cher.
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Comments
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Make a payment to the card from your business account.1
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Personally I would transfer the money from the business account to your personal account and then pay off your credit card as normal from your personal account.... the same as if you were an employee and claiming expenses1
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Thank you both.0
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Nothing wrong with paying straight back to the original payment method, just make sure it's noted correctly in the books
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