![]() ![]() When the employee pays you back, you will list this as a Deposit. ![]() Include a memo with the employee’s name, stating it was a personal purchase/loan. Under “account,” you’ll need to select “Employee Advance” using the drop-down arrow. ![]() If you paid for something for an employee’s personal use, with the agreement that the employee would pay you back, you’ll need to start by recording it as an Expense. When you’re in the Accounting tab of QB, click “New” and the Account template will pop-up, which you’ll set up accordingly: If you often give out employee advances, creating sub-accounts would be helpful, using the employee’s name. First, you’ll want to create an Employee Advance account (unless you already have one). Let’s go over how to do record these in QuickBooks Online. This could be for one of two reasons: you purchased something for an employee with the agreement they will pay you back, or you’re giving an employee an advance on their check. As a business owner, there will be times when you’ll need to give an employee a cash advance. ![]()
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