We've all been in a situation where you might accidentally put a business expense on a personal card or the opposite. It happens! It's actually quite simple to fix this in your business books so that you have the RIGHT expenses recorded as business expenses.
In this video Hannah goes over how to record these expenses whether you are a single owner or have multi-member ownership.
0:00 Don't worry, it happens
1:08 Uber and Costco mishaps
2:35 Personal expense on business card
5:45 Paying the business back
7:09 Business expenses on personal
9:31 Saving receipts
11:30 Separate personal and business
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Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and
should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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