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Categorizing business profit bank transfers: Self-employed

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I am a one person self-employed business. How do I categorize when I take profits? Mainly as a bank transfer between my business general operations bank account to my personal checking account to pay my monthly personal expenses like mortgage, utilities, etc. I want to make sure that this is not being counted as an expense or negative income. Thanks.

QuickBooks Self-Employed

RustlerAnswer

When you take money or value from the business for personal use as a sole proprietor, that is an equity draw. Use that account as the expense (reason) for the payment/withdrawal.

RustlerAnswer

When you take money or value from the business for personal use as a sole proprietor, that is an equity draw. Use that account as the expense (reason) for the payment/withdrawal.

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sandman21Author

Thank you! For description then I have been writing: "Equity income transfer to owner personal account". Something like that sufficient? Also, do I list myself by individual name as payee or leave that blank?

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