The owner of the company received a cheque from insurance meant for his personal needs in his companies name. So he needs to retrieve his money from company. How to show it in account books.
Thanks and regards

Sounds a bit dodgy to me. If the cheque has come in with the company as the payee, then it's fair to assume that the claim was made under the company name, or in other words, the claim was made under an insurance policy of the company rather than a personal policy of the owner.

If however, it is somehow legitimate, then I think the best approach would be to refund the cheque to the insurance company (or just send it back if it hasn't been banked), and get them to reissue the cheque in the correct name.