How can you apply a payment to a customer and offset to draw?

Thanks for reaching out to us, GrannyS66.

I'll be happy to guide you in recording your transaction.

To apply a payment to a customer and offset it to the owner's draw in QuickBooks Online, you'll have to record the payment from the customer using the Receive payment feature. Then, deposit the payment into a clearing account.

Here's how:

1. In the left menu, click the + New button.
2. Select Bank deposit under the Other section.
3. Choose the clearing account as the deposit to the account and enter the payment amount.

Once done, transfer the funds from the clearing account to the owner's draw.

1. In the left menu, click the + New button.
2. Select Transfer under the Other section.
3. Choose the clearing account as the transfer from an account and the owner's draw account as the transfer to the account.
4. Enter the transfer amount and other necessary details.
5. Select Save and close.

That's it! You can now properly record the payment from the customer, deposit it into a clearing account, and then transfer the funds to the owner's draw account. This will ensure that the transaction is accurately reflected in QBO.

For future reference, here's a great resource to help you close out your current year and prepare for the new year in QuickBooks with your accountant: Year-end guide for QuickBooks Online.

Fill me in if you have other QuickBooks concerns or questions. I'll get back to help and make sure you're taken care of.