Reimburse owner for company expense

Jumping in to help you record the reimbursement, SArchitects.

There are a couple of steps to properly enter a business expense that's paid by the owner. I'd be glad to share all of them with you. 

First, set up a current liability account. This is to track the amount the business owner paid on behalf of the company. Here's how:

1. Go to the Gear icon and select Chart of accounts.
2. Click New.
3. Select Current liabilities for Account Type, then choose Other current liabilities. for Detail Type. 
4. In the Name field, type a relevant name such as 'Payable to owner'.
5. Choose Save and close.

Second, create an expense transaction. You will use this to record the telephone expenses or amount being owed. Let me show you how: 

1. Click the + New button and select Expense.
2. Enter the name of the vendor or payee.
3. Proceed to the drop-down list for Category, then select the account Payable to owner.
4. In the Amount field, enter the total purchase amount as a negative figure.
   Note: When done correctly, the amount at the top right should read R0, as no cash has left the business at this point.
5. Select Save and close.

Lastly, record a transfer once you paid back the amount. Here's how:

1. Go back to the + New button and select Transfer.
2. Click the drop-down list for Transfer Funds From, then look for the name of the bank account used to pay the owner.
3. In the drop-down list for Transfer Funds To, select the account payable to owner.
4. Enter the amount reimbursed in the Transfer Amount field.
5. Click Save and close.

I also have these articles to share in case you need more guidance and information when managing owner-related transactions: 

• How to Record a Company Loan From a Company Officer or Owner
• Record Paying Back an Investment

Feel free to ask follow-up questions in your reply. You can also drop by again anytime you need more help with QuickBooks.