Selling a vehicle after 2 years with a loan and 179 Full depreciation

Hello there, TBailey.

Although we recommend not to mix business and personal funds, there can be times that the business funds pay personal expenses or vice versa. In QuickBooks, here's how we handle them.

First, let's record the business expense you paid for with personal funds using a journal entry. 

1. Select + New and click Journal entry.
2. On the first line, select the expense account for the purchase and enter the purchase amount in the Debits column.
3. On the next line, select Partner's equity or Owner's equity and then the same purchase amount in the Credits column.
4. Select Save and close.

Once done, you can either use a check or expense to reimburse the money. 

1. Go to the +New button and click either Check or Expense.
2. Select a bank account to use to reimburse the personal funds.
3. In the category column, select partner's equity or owner's equity.
4. Enter the amount of the reimbursement.
5. Select Save and close..

I also suggest reaching out to an accountant to help you record your loan assets and the correct account to use in your Journal Entry. 

Fill me in if you need more help by leaving a comment below. I'll be around in the Community to help. Take care and have a great day!