Owner used company funds for a personal expense. He then reimbursed the company back for the funds he took. How do i record in qbo?

Hi there, courtney-platoal.

Thank you for visiting the QuickBooks Community. I'll be sharing steps to ensure you can record reimbursement entries from company funds used for personal expenses.

When an owner uses company funds or a business account to pay for a personal expense, you'll have to create a Cheque or Expense in QuickBooks. This is to record a personal expense from a business account.

Here's how:

1. Click the + New button.
2. Select Cheque or Expense.
3. Choose a Payee from the dropdown menu.
4. Select the Bank Account, Cash Account, or Credit Card you used to make the purchase.
5. In the Category details section, select the dropdown menu to select the tax category that fits your need.
6. Enter the Amount.
7. Click Save and close.

Once done, you can now reimburse the company by making a Bank Deposit. Please follow these steps:

1. Choose the + New button. Then, choose Bank Deposit.
2. Select the Account to add the reimbursement to and select the Date.
3. Go to the Add funds to this deposit section. In the Received From field, enter the person who made the personal expense. Then, select the account.
4. Select the Payment Method and enter the reimbursement amount.
5. Click Save and close.

Lastly, you may refer to this article to see steps on how you can run different reports in QBO to provide you about different aspects of your business: Run reports in QuickBooks Online.

Don't hesitate to click the Reply button below if you have other concerns about managing your entries in QBO. I'm always here to help, courtney-platoal.