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August 20, 2020
Question

I have a sole proprietorship business and I just noticed that my owner's drawing account accumulated all the drawing from last year to this year. How can I fix that?

  • August 20, 2020
  • 2 replies
  • 4 views
No text available

2 replies

Level 1
August 20, 2020

Hi @daycarnauba1 , try to set date report as your custom. 

Rustler
Level 15
August 20, 2020

each new year after all adjustments are made for the previous year, do a journal entry for the total amount of last years drawing

debit owner equity, credit owner drawing

 

and if there was investments

debit owner investment, credit owner equity