Owner Draws
How do I enter an owner draw and have it show on the profit and loss statement?
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dwvKogURmr34SKacfA8pyY
09/07/10 12:15pm PDT
Viewed by asker 02/13/13 4:43pm PST
Viewed by asker 02/13/13 4:43pm PST
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BeckettBus
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09/07/10 3:45pm PDT
The solution
Owners draws should be posted to an Equity account, which will show on the Balance sheet.
If you for some reason need it to show on the P&L, you should set up an expense account and make a journal entry to reclassify the draws at the end of the year.
I hope this has helped. If so, please mark this question as 'Solved'. Thank you!
Becca Lambertson, CB
Phone 321-722-4855
www.BeckettBusiness.homestead....
Becca Lambertson, CB
Phone 321-722-4855
www.BeckettBusiness.homestead....
raywhite28
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09/07/10 9:34pm PDT
Latest post
Owner Draw doesn't belong on the P&L report. It's a balance sheet item.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
