How will you record purchase of house to director

Hello, ato-wewireafrica. 

Thank you for reaching out to the Community. I'm here to guide you on how you can record purchasing property. 

Purchasing a property is considered as purchasing a new asset. You'll need set up proper asset account. Here's how:  

1. Go to the Accounting tab on the left menu.
2. Select Chart of Accounts, then click New on the right.
3. From the Account Type ▼ dropdown, tap Fixed Assets.
4. From the Detail Type ▼ dropdown, select the option that closely describes the asset.
5. Enter name of the account, then hit the Track depreciation of this asset checkbox.
6. Enter the current value of your asset in the Original cost field and the as of date. If recording the loan, leave this blank.
7. Press Save and Close.

You can also read through this help article: Set up an asset account in QuickBooks Online It helps you learn about how asset account works in QuickBooks Online.   

Feel free to message us again if you have follow-up questions. You can always count on us here in the Community at any time. Have a great day ahead and stay safe!