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nadams1
September 24, 2020
Question

How do I pay myself/owner draw using direct deposit?

  • September 24, 2020
  • 2 replies
  • 0 views
Original commenter did not share additional details

2 replies

G
gayatriluthfias20
September 24, 2020

Hi @nadams1 , thank for posting in quickbooks community.

 

Easier pay the owner draw with transfer in bank account then recategorized the account to owner draw. If you need to re-categorize a transaction and move it to a different account, select Undo. This sends the transaction back to the For Review tab. For additional information here i give you article about setup owner draw account .

 

Glad to assist you.

T
Test2GoLLC
September 24, 2020

Setting up yourself as vendor, recording the draw as a bill and paying it online will do the trick. - the online bill pay feature in quickbooks is powered by Melio

    A
    aprilalphasite
    December 5, 2020

    I tried setting up as a vendor with bill to pay but it says the vendor must be 1099. The owner is a non-1099. What is your work around with that?

    Kristine Mae
    Kristine Mae
    December 5, 2020

    A company's owner is paid through the owner's draw, Aprilalphasite. They don't have to be set up as a vendor. Let me explain.
     

    An owner's draw is an account where the owner takes the money out of the business. 

     

    You can check these articles for more information:

    As always, I suggest reaching out to your accountant on the best way to handle this.

     

    Let us know if you have other concerns. We're just one post away. Take care!

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