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NavCopy
February 15, 2025
Question

Self Employed - Owners Draw to Owners Equity accounts closing dates

  • February 15, 2025
  • 1 reply
  • 0 views

Do you transfer amounts on the last day of you year or on day 1 of the new year when transferring Owners Draw to Owners Equity to close out the accounting year?

 

1 reply

H
Henock K
February 17, 2025

Hi NavCopy,

Welcome to the Community. QuickBooks is a flexible program that makes it easy to manage your books. I'd be glad to help.

 

Based on what you've described, I encourage you to contact an accountant. They'll be able to point you in the right direction for the best course of action. If you don't have an accountant, we can help you locate a ProAdvisor in your local area. 

 

Let me know if you have questions, I'll be happy to help.

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