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lwbarn-gmail-com
Level 1

How do I record owners home owners insurance

The owner's house insurance is coming out of the business how should I record that?
3 Comments 3
GlinetteC
Moderator

How do I record owners home owners insurance

I can help you record the owner's insurance in QuickBooks Online, lwbarn-gmail-com.

 

If you're referring to paying the insurance, you can create a Check/Expense transaction affecting the insurance account. 

 

If it's recording the insurances received, you can record a bank deposit in QBO. Before doing so, I suggest reaching out to your accountant for further guidance on what account to use in tracking insurance received.

 

To make a deposit:

 

  1. Click  +New and choose Bank deposit.
  2. On the Bank Deposit page, go to the Add funds to this deposit section to input the entry.
  3. Enter the remaining field boxes.
  4. Once done, press the Save and close button.

 

You can get back to us if you have follow-up questions about managing your account. The Community is here to help.

lwbarn-gmail-com
Level 1

How do I record owners home owners insurance

This isn't what I had asked at all?  Perhaps my wording wasn't correct, What I was trying to ask, is how do I record an Owner's, (personal) home owner's insurance. Payments for the Owner's house, his insurance is coming out of the business and I was wonder how one would input that into the quickbooks..

ShiellaGraceA
QuickBooks Team

How do I record owners home owners insurance

Hi @lwbarn,

 

I'll share some information about recording owner's (personal) home insurance. While it's not advisable to mix personal and business funds, you can still record it n QuickBooks. Let me guide you how.

 

  1. Record a personal expense from the business account by creating an expense or check transaction.
  2. Reimburse the company.

For in-depth instructions, please check this guide: Pay for personal expenses from a business credit card or bank account.

 

From there, you're able to keep track of your personal expense transactions.

 

I've also added this link for your reference: Mixing business and personal funds.

 

Please don't hesitate to reply if you have follow-up questions or concerns about recording owner's expenses. We're here for you. Take care and stay safe.


 
 

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