Owner's drawings and personal expenses fall under equity accounts and are tracked in the Balance Sheet report, Rowray7.
In QuickBooks Online (QBO), the Profit and Loss (P&L) statement primarily reflects business-related income and expenses.
Personal drawing expenses should be recorded as equity transactions to ensure they do not appear in the P&L. These transactions represent money taken from the business for personal use and aren't considered business expenses.
You can do this by setting up either an "Owner's Equity" or "Owner's Drawings" account. For detailed instructions, refer to this article: Add an account to your chart of accounts in QuickBooks Online.
All transactions recorded under this equity account will be displayed in the Balance Sheet report.
You can customize your report by applying filters to display only the specific data you need. If you want to include additional information that is not in the report, you have the option to export it to Excel for further customization.
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