If you’re wondering how to track personal expenses in QuickBooks, read this article! It’s a simple, yet essential guide to help you set up and maintain your personal finance records. Here are the steps you need to follow. Start by creating separate accounts for business and personal income and expenses. Then, move each expense to its appropriate account type. For example, if you use the same credit card for business and personal expenses, you’ll want to create a new account for it.
Once you’ve added a customer or fund, add a personal expense. Then, select the amount you’d like to reimburse. The easiest way to do this is to add the expense to the customer or fund account. Once you’ve added the customer or fund, you can enter the amount of the reimbursement. Once you’ve entered the payment details, you’ll want to save the transaction. Then, you’ll be able to review the transaction anytime you want.
To begin recording personal expenses in QuickBooks, you must first create an account in the General Ledger and then the Trial Balance. This will make it easy to reconcile all the accounts in your bookkeeping system. You can also use QuickBooks to scan source documents and download credit card and bank statements. You’ll want to create separate categories for your personal expenses, so the income statement can reflect each one. These categories are essential for accurate tracking of your finances.