If I have a business expense receipt that I paid with my personal funds, how do I record the expense and reimbursement while ensuring Quickbooks is calculating the ITC?

You're on the right path to record the business expense that was paid by personal credit card using journal entry, @billing106. However, please note that QuickBooks will not reflect the tax applied from this transaction.

To properly account for the ITC, what you can do is create a sales tax adjustment. I'll walk you through to the complete process. To get started, let's set up an income or asset account to track the input tax credit.

1. Go to the Gear icon.
2. Select Chart of accounts, then click New.
3. From the Account Type dropdown, select Income to decrease your sales tax due.
4. Select the account’s Detail Type, then choose Sales of Product Income.
   
5. Enter the name and select Save and Close.

Now, let's add an adjustment:

1. Go to Sales tax.
2. Find the tax period you need to adjust, then select Prepare return.
3. Next to the entry you need to adjust, click Adjust.
4. Enter the adjustment date and the tax rate.
5. Choose the adjustment account for adjusting sales tax.
   
6. Enter the amount and add a memo as needed.
7. Hit Save to confirm.

After you record the business expense using journal entry, you have two options for reimbursement, record as a cheque or record as an expense.

Furthermore, I'll share with you this article to help you file your sales tax return: File your sales tax return and record sales tax payments in QuickBooks Online.

If you have any further questions about managing expenses made with personal funds, don't hesitate to leave a comment. The Community is here to assist you 24/7.

Someone else had suggested that I put my name in, say "RC Personally", as a vendor. Then create a bill with the line items being the items I purchased. I can attach the original receipt image as well. Then to pay myself back, I go to "pay" the bill to myself and use the appropriate account that paid myself back. I can even do the same with employees. Isn't this (no offence) a much easier method? Keep in mind, we are a service-based business. We do not sell any products or have any inventory.