When you record an Owner's Draw from a bank feed, are you supposed to record a Categorize or Transfer? I want to make sure I am doing it correctly. I have included a screen snip below, showing how QuickBooks is suggesting Transfer, but I thought it should be Categorize. Thank you for any help.
Hi BrandonS-CPA_Padgett!
It's great to see you posting today! I'm happy to provide details about recording an owner's draw from a downloaded transaction.
QuickBooks will randomly suggest a method to record a downloaded transaction. You are right about categorizing the downloaded draw instead of recording it as a Transfer. To do this, you'll want to click on it and choose the right category.
Another way of recording a draw is to manually create a check. Here's an article for more details: Set up and pay an owner's draw.
I'm just a comment away should you need more help with your transaction. Take care and happy weekend!
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