How to pay owner. Owner paid insurance from his other account
Owners of other than Subchapter S corporations or LLC electing S-corp tax status are paid only one way and that is by owner/member draw. And what they pay on behalf of their own company from personal funds is owner/member contribution. These are both equity accounts, 2 of the 4 that each owner should have. There should be 3 basic equity accounts that get posted to, Owner Draw, Owner Contribution and Owner Equity. They should all be sub accounts of an overall equity summing account that is never posted to.
For this insurance paid situation record an Expense, from Owner Contribution. and that is that. done, finite, it is all the owner's money and there is no legal requirement to repay himself. But if he wants reimbursed you write a check to him and post it as Owner Draw