QB Issue Resolution:
“So how do I pay myself back for those expenses”
Write Check and use your Employee name as payee. List what you Bought, that they are paying your for.
Example:
You bought Printer Paper. You write a company check to yourself (the employee name) for Office Supplies and give the company your receipt for Proof.
“Is it better to use the register of the loan account”
It isn’t a Loan. It is reimbursement. If it was a Loan, you would not expect to be repaid in 2018 for expenses entered into 2017. The business did not Incur these in 2017. It isn’t going to make your 2017 1120S.
“or enter the expenses separately? If I enter them separately what would I use for the Bank/Credit account or once I enter the loan will that show up there in that drop down menu?”
First, stop thinking about Working in Registers. Use transactions: Banking menu > Write Check. List here what they owe you for, that you are submitting for Reimbursement under an Accountable Plan as an employee.
A Shareholder gives a loan, such as $50,000 deposit.
An Employee buys something for work, and the employer repays them, if the employer didn’t offer the Money in advance, so that the employee did not have to use their own funds.
Resolution for Issue 'I am an LLC filing as an S-Corp. How do I record in QB expenses I paid on my personal credit card. How do I get paid back and how do I record it. Expenses were from 2017. I paid for expenses last year in 2017 which was my first year in business with my personal credit card. I’m an LLC filing as an S Corp. I need to know how to record those expenses and how to pay myself back for those expenses and how I would record that in QB.' available: Yes (Solved).
Source: Intuit Community forum.
I am an LLC filing as an S-Corp. How do I record in QB expenses I paid on my personal credit card. How do I get paid back and how do I record it. Expenses were from 2017. I paid for expenses last year in 2017 which was my first year in business with my personal credit card. I’m an LLC filing as an S Corp. I need to know how to record those expenses and how to pay myself back for those expenses and how I would record that in QB.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.
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