I recently started a small business, me and my partner as in partnership.
We invest $6k after we took over the business to buy tools and relevant equipment. I purchased a $20k vehicle for business use by using my own money.
Just wondering, as the business is starting to make money, can I reimburse $23k back to myself? I have been using expense claims to record the purchases. When I transfer money from business account to myself. How do I record it? Also, is this a drawing, as in salary, or it is company paying me back.