how do i record personal drawings
QuickBooks UK : SimpleStart 2012how do i record personal drawings taken from the business so it doesn't show in the P&L report as an expense?
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02/07/12 9:50am PST
Viewed by asker 02/09/12 5:23am PST
Viewed by asker 02/09/12 5:23am PST
2 Replies
02/07/12 10:14am PST
Either set up a Director's Current Account or Director's Loan in the Balance sheet section and create a drawing from that account
02/10/12 9:56pm PST
Latest post
Set up an Equity Account in the Chart of Accounts(CTRL+A), name it as a Owners Withdrawal.
On the Journal Entry.. Debit the Withdrawal you set-up& Credit the Petty Cash(if your using petty cash, if none make it the account you will do the personal drawings)
