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October 26, 2021
Question

Atm Withdraws using business account going straight to owners draws

  • October 26, 2021
  • 2 replies
  • 0 views

I have been directed to the help articles that tell you how to pay yourself with a check and told to do that. It does not really help me. When I take money out of my business account I use the ATM it automatically categorizes it as an owners draw. Which makes sense to me. But then Im told I need to write a check to myself in quickbooks? So my question is when I write a check to myself it makes it look like the money is actually coming out of my bank which it already has so why should I have to do that at all? But then everything is out of whack so how do I record payment to myself if I take the money out of the bank through the atm? 

2 replies

Rustler
October 26, 2021

An ATM withdrawal is really just an electronic check, enter the transaction in the check register and use EFT (electronic funds transfer) instead of the check number

October 26, 2021

I cant edit the check number

asha_kanta_sharma
October 26, 2021

When you make any transations, it will automatically come to Banking Tab as unreconciled transactions. You can simply transfer these into your account created in QB