Welcome to the Community, @fd_com.
I can share steps so you can record the money the owner borrowed from the business. Before that, I suggest creating first a backup copy of your file so we can make sure you have original data that you can restore at any time.
When ready, you can create an Asset account since the loan is receivable by the business. Here's how:
- Navigate to the Lists menu, then select Chart of Accounts.
- Under the Account dropdown, click New.
- Choose an account type (Asset Account), then select Continue.
- Complete the account details.
- Then, Save & Close.
Next, write a check and use the created Asset account. Let me guide you on how:
- Go to the Banking menu.
- Choose Write Checks.
- Select the account where the money will be taken from.
- Complete the check fields you need.
- Select Save & Close when done.
Once the owner pays the loan, you can create a Journal Entry to reduce the asset account until the loan is fully paid.
Also, for the best advice and options, I highly suggest reaching out to your accountant. This way we can ensure that your books are accurate and avoid messing up with your data. If you're not affiliated with one, use our Find an Accountant tool to look for one near you.
You might also want to visit our help page to browse articles that can guide you with your QuickBooks tasks. To get started head to our QBDT help articles at this link.
If you have additional questions about recording money borrowed by the owner, please post a reply below. I'll be on the lookout for your response. Have a good one.
