I accidentally paid for a personal purchase using my business card or bank account – what should I do?

If you accidentally use your company’s payment card or bank account to pay for a personal purchase, you must immediately refund the amount to the limited company’s bank account and process both the purchase and the refund transactions in your customer account.
 

Transaction for the purchase paid with the company’s card or bank account

1. Create a new expense from the account transaction. Under account transactions, select “Assign” → enter the amount → “Add new expense”. Alternatively, select “Add expense” on the dashboard.
2. Attach the original receipt for the personal purchase to the expense voucher. If the original receipt is no longer available, prepare a free-form statement (instructions) and attach it instead.
3. Enter your own name as the place of purchase and select “Private person”. Select “Product purchases” as the transaction type and “Purchased for business use" as the subcategory. Enter the amount and select a VAT rate of 0%.
4. In the description, explain that you accidentally made a personal purchase using the company’s payment card and that the money will be returned to the limited company’s bank account.
5. If you created the expense directly from the account transaction by assigning it to a new expense, the payment will be recorded automatically. Simply select “Save and exit”.
6. If you created the expense using, for example, the dashboard button, you must mark the record as paid yourself. Select “Yes”, then select the correct transaction from the list and choose “Mark as paid”.
    

Transaction for the amount returned to the company’s bank account

1. Create a new income voucher from the account transaction. Under account transactions, select “Assign” → enter the amount → “Add new income”. Alternatively, select “Add income” on the dashboard.
2. Attach the same original purchase receipt or free-form statement to the income voucher.
3. Select “Other” as the transaction type and a VAT rate of 0%.
4. In the description, explain that the transaction relates to a personal purchase accidentally made with the company’s payment card on xx.xx.xxxx and that this income returns the purchase amount to the limited company’s bank account.
5. Mark the income as paid in the same way as the expense record, depending on how you created it.
    

Based on the records you have created, we will make the necessary accounting entries to ensure that the accidental use of the company’s payment card for a personal purchase does not affect, for example, the company’s expenses.