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carpediemitadvis
September 5, 2024
Question

How do I categorize the amount I am drawing (“paying myself”) weekly?

  • September 5, 2024
  • 1 reply
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1 reply

BigRedConsulting
BigRedConsulting
September 5, 2024

An owner's draw is a decrease to Owner's Equity.

 

So, use an Equity account to record the draw. The likely best account to use is usually named Owner's Equity. Or sometimes use a sub-account like Owner's Equity:Draw.

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