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Sep 5, 2024 10:12 PM UTC
Question

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

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1 reply

BigRedConsulting
Sep 5, 2024 10:47 PM UTC

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.