Thank you for visiting again the QuickBooks Community, Grovegal. I'll ensure to share steps so you'll be able to pay back the contribution.
To start with, you'll have two options on how you can pay back a capital investment after you record an investment or contributions. First, you can pay with an actual check if you’re going to send someone a paper check.
Here's how:
- Choose the + New button.
- Select Check.
- Enter the person or business you’re paying back.
- Put a check number.
- Enter the information in the Category Details section. Like, in the first line, the equity account you use to track the investment in QuickBooks and the amount you're paying back today.
- On the Second Line, the Expense account you use to track the interest you pay and the amount of interest that is part of your payment today.
- From the Other lines, any additional fees and their appropriate accounts.
- Click Save and close.
However, if you’re paying someone back with a debit or credit card, you can record the repayment as an expense. You can click this article to see the detailed steps on how to perform the process: Enter and manage expenses in QuickBooks Online.
Lastly, you may refer to this article to view details on how you can record a loan from the officer or owner of the company by setting up a liability account in the QBO: How to record a company loan from a company officer or owner.
If you have any other questions about recording entries in QBO, please let me know by adding a comment below. I'm always here to help. Keep safe!
