My boss paid expenses for the business ( vendor bills, materials) from personal account when getting started. How do I record reimbursing him now that we are able to?

Hey, @tammyleninsky.

I'm here to walk you through the process of reimbursing your boss. We need to create an owner's draw account to get you started. An owner's draw is an equity account that tracks payments made from the company's assets to pay the owner. Follow the steps below on how to set up the owner's draw account, and how to write a check from that account. 

Set up the owner's draw: 

1. Go to List, then Chart of Accounts.
2. At the bottom left, choose Account> New.
3. Click on Equity, then Continue.
4. Enter the account name (Owner's Draw is recommended) 
5. Click Save and Close.

Write a check from the owner's draw: 

1. Go to Banking and click Write Checks.
2. From the Write Checks window, navigate to the Pay to the order of section, choose the owner, and enter an amount next to the $ sign.
3. In the detail area of the check, assign the amount of the check to the equity account you created to record the owner's draws.
4. Select Save & Close.

Now, you'll be able to reimburse your boss. For more information on how to recording the payment to your boss, I suggest reaching out to your accountant. 

Reply to this thread if I can help with anything else, have a good week.

I'm having the same problem but my boss paid some bills that are billable to a customer, I'm wondering how to enter the bill and how to pay the bill and apply it to owner's draw. 

Hello there, Diamond Framers.

I appreciate you for joining this thread. I can help you record the bills that were billable to a particular customer. I'll show you how.

First, create an equity account or use the open balance equity in your QuickBooks. Ensure the account has an existing balance.

1. Go to the Lists menu, then select Chart of Accounts.
2. Search for Opening Balance Equity.
3. If you'll create a new equity account, select New from the Account drop-down arrow. 
4. Complete the account details and click Save & Close. 

Next, transfer the funds from the equity account to a bank account. Once done, we can follow these steps to record the flow of your transactions. Here's how:

1. Create a bill. Make sure to utilize the Expense tab. Make sure this transaction is billable to the customer. Add customer in the Customer column> Tick the Billable box.
   
   
2. Create an invoice.
   
   • Go to the Customers menu and select Create Invoices.
   • Select customer name.
   • Choose Select the the outstanding billable time and costs to add to invoice?. 
   • Click OK.
     
     
   • Go to the Expense tab and tick the billable transaction you created.
   • Hit OK.
     
     
3. Create a bill payment and deposit it to your bank or checking account. 
4. Record an invoice payment.
5. Write a check affecting to equity account to refund the personal account.
   
   

Feel free to visit this article: Help Articles in QuickBooks Desktop. It provides information about handling transactions and other details in QuickBooks.

Let me know if you have more concerns about recording transactions within your company file. I'll be around to help you in any way that I can. Take care and stay safe