How do I make a cash withdrawal that won't show as an expense?

Forum|Forum|3 years ago
December 30, 2022
1 reply
14 views

The owner of the company wants to withdrawal x amount of cash but we don't want it to affect the income statement. How can I record this transaction without it showing as an expense?

QuickBooks Desktop

Best answer by BigRedConsulting

Don't use an expense account.

Instead, use an Equity account, as the owner is removing equity from the company.

BigRedConsultingAnswer

Level 15

Don't use an expense account.

Instead, use an Equity account, as the owner is removing equity from the company.

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