Happy New Year as well, @heoconnor.
Thank you for choosing QuickBooks and sharing your concern here on the Community page. I can share with you how to record business expenses paid with personal funds and how to enter reimbursements.
You're correct with recording entries for the expenses paid using the personal funds. Just make sure to select the correct accounts under the Debit and Credit columns.
- On the Journal Entry page, select the expense account for the purchase on the first line.
- Enter the purchase amount in the Debits column.
- On the second line, select Partner's equity or Owner's equity.
- Enter the same purchase amount in the Credits column.
- Save the transaction.
If you're ready to reimburse the amount, then it's time to enter a check or an expense.
- Go to the (+) New icon, then select Expense.
- Select the (business) bank account to reimburse the personal funds.
- In the category column, pick the partner's equity or owner's equity.
- Enter the amount of the reimbursement.
- Select Save and close.
The Payment method on the Expense page is the type of payment you want to use for the transaction (cash, credit card, check). While the Payment account is the account where the amount is coming from. You can create a new method or account for both by clicking on the drop-down arrow.
For additional tips about recording business expenses you made with personal funds in QuickBooks Online, you can open this link.
I also recommend checking out the topics from our help articles for more resources while working with QuickBooks in the future.
If you have any other questions, please let me know by adding a comment below. I want to make sure everything is taken care of for you. Cheers!