A statement is the starting point

A personal-card statement may show the date, merchant and amount. It often cannot explain what was bought, why it relates to the firm or whether the firm has already reimbursed the owner. Those missing details are the starting point for an accounting review.

IRS Publication 583 explains that supporting records should establish the amount paid and the business character of an expense. Paying with a personal card does not, on its own, determine the accounting or tax treatment.

Build a small review packet

For the period requested, collect the statement or transaction export and relevant receipts or invoices. A practical review sheet can capture:

  • Date, merchant and amount to locate the transaction.
  • Receipt reference so the supporting document is easy to find.
  • Business purpose in a short, specific note.
  • Personal or mixed use when a purchase includes both.
  • Refund or reimbursement status to flag items already reversed or repaid.
  • An open question where the treatment is uncertain.

Keep the original records. Agree how to share personal information with your accountant rather than assuming every transaction needs to be copied into every workspace or shared with every contact.

Explain the purchase, not just the merchant

Imagine a fictional $180 purchase at an office-supply retailer. The merchant name suggests a category, but the receipt might include both firm supplies and a personal item. The receipt and a note about the intended use give the reviewer information that a merchant label cannot.

Suppose the receipt separates $120 of firm supplies from a $60 personal item. Preserve both amounts and describe the firm use; do not label the entire $180 business-related. If the firm later reimburses the $120, link that payment to the original purchase so the reviewer can distinguish the expense evidence from the reimbursement. This fictional illustration organizes the facts without deciding the appropriate tax or accounting entry.

Record the purpose while you remember it. Mark uncertain items for follow-up rather than forcing them into a business category. Mako’s bookkeeping support can help organize these questions; your accountant may need additional detail before recording an entry or coordinating with the tax preparer.

Some expense types need more detail

Publication 463’s recordkeeping guidance addresses travel, gifts and car expenses. The details required depend on the category; proof of payment alone does not establish business purpose. Do not treat a general transaction spreadsheet as a substitute for the records applicable to a particular expense.

This is a guide to organizing evidence, not a determination that an item is deductible. Entity structure, reimbursement history, use and other facts can affect the treatment.

Share records through the agreed channel

After onboarding, use the document request or other secure channel agreed with Mako to provide the requested records. Provide the requested period and supporting receipts, and flag transactions that need discussion with your accountant.

Start an inquiry with business contact details only. Do not send statements, card numbers, passwords or client records through the public form. During scoping, agree the period, file types and supporting detail needed for review.

Build a useful review handoff

Keep the original statement or transaction export alongside any receipts and business-purpose notes. Identify the cardholder and statement period without putting full card details into ordinary messages. Flag uncertain items for review instead of guessing a category.

When accounting support is part of the engagement, agree who will answer questions about mixed or unclear expenses. The cardholder’s context and the supporting record help the accounting team assess treatment; an imported merchant name is only a starting point.

Federal recordkeeping sources checked October 5, 2026. Publication 583 and Publication 463 address different scopes; confirm the requirements relevant to your circumstances with your accountant.