Skip to main content
U
userjpcornes
September 3, 2021
Solved

I recently transferred funds from my business to personal account for my first owner's draw. How do I categorize and process in QBO?

  • September 3, 2021
  • 2 replies
  • 0 views
Original commenter did not share additional details
Best answer by Rustler

make the payment from the business bank and use owner equity drawing as the expense (reason) for the payment

2 replies

Rustler
RustlerAnswer
September 3, 2021

make the payment from the business bank and use owner equity drawing as the expense (reason) for the payment

U
userjpcornesAuthor
September 3, 2021

Thanks Rustler!  I have a couple of follow-up questions: 1) why do businesses complete a draw by check or via their business debit? and 2) I read a response yesterday that said a number of businesses exclude these transactions and their bank feed. Why would you want to exclude an owners draw?  

Terms & ConditionsAccessibility statement