USA LLC creditor billed PERSONAL account

[lackingknowledge]

I became an LLC two years ago, and obtained a business LLC credit card.

I stupidly STUPIDLY did not notice that one of my "monthly recurring charge" creditors has been billing my old PERSONAL credit card for ALL OF LAST YEAR, including this month of this year!

I'm FANATICAL about "not comingling finances," "keeping my LLC separate from personal," "protecting the 'Corporate Veil'," etc., etc., and that is why I am here asking this question: WHAT CAN I DO to repair this disaster?

Do I, myself, personally draft a bill and "issue" the bill to my own LLC, and then have my LLC reimburse me with a check? And, if so, do I do two of them, one for last year, and one for this year?

Help, please. Thank you!!

 

[Tyson]

So that expenses remain matched with revenue, I think it is probably best to record the expense accounts of the business when the expenses were incurred and then credit that same amount to a loan account. Thus it will be as if you were loaning the money to the business over the past year. Now you can just have the LLC pay off its accumulated loan account.

Have you already filed your taxes for last year? If so that will make things a little more difficult.

I'm not 100% sure if that is the right way to do it, but it's the only way I can think of that would keep with the matching principle. If taxes have already been filed, they would probably need to be amended. An accountant would be able to provide better advice.