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April 7, 2024
Question

How to record a transaction when an owner withdraws or deposit money from business?

  • April 7, 2024
  • 1 reply
  • 0 views
What Chart of account to use for such transactions?

1 reply

April 8, 2024

Hello sbbookingplus-gm,

 

It's nice to see you reaching out to us here.  Ensuring you're selecting the appropriate accounts, for owner withdrawals and deposits is essential in keeping your books accurate.  QuickBooks Online enables you to record and repay investments seamlessly, and you can review the steps here.  However, if you're uncertain when it come to the associated accounts, I recommend speaking with an accountant for their expertise and the best course of action, to ensure a positive outcome on your books. If you don't have an accountant, don't worry, you can search for a ProAdvisor in your local area by following this link.

 

If you have other questions, please don't hesitate to reach out.  We would be happy to help!