5 years ago
Travel Insurance Claim Refund - Sole Trader
Hi, I need help to enter an insurance claim refund for a sole trader. The owner travelled overseas and after getting sick made a claim for medical expenses, some meals, accomodation etc. I entered all his expenses while overseas as Owners Drawings and now I am not sure how to allocate the refund once approved from the insurer? Thanks
You should have a talk with your Accountant.
You state the original overseas travel was posted to Drawings, then I suggest the Refund would be posted to Drawings.
Duncan