Due to Owner

Welcome to the Community space, @TruckingM.

I am here to share some insights about the reimbursement of your funds in QuickBooks Online (QBO).

If there's a balance owed to the owner that carries over to the next year, you have the option to reimburse yourself before the start of the new year or whenever sufficient funds become available. This provides flexibility and allows you to manage their finances in a way that suits their needs. Since QuickBooks will only depend on your tracking and how your company works.

Additionally, I suggest reaching out to your accountant so they can guide you accordingly about your reimbursement.

Moreover, I'm adding this helpful article as your reference in running reports in QBO: Run reports in QuickBooks Online.

Return to this post if you have other concerns about reimbursement in QBO. I'll be here to lend a hand.

@TruckingM 

If this is a sole proprietorship (SP) or an LLC taxed as a SP, you and the business are the same entity so you can't loan money to yourself.  These funds should be recorded to your Owner's Equity account, not as a loan.  I prefer just one single equity account called 'Owner's Capital'.  Some people prefer to use two equity accounts - Owner's Contributions for money in and Owner's Draws for money out.  Assign the money in to the appropriate equity account and the money out to the same account.  If this is anything other than a SP, please advise. 

My company is setup as a S-Corp.