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jennyryce1
Level 1

How do I add a personal draw as an equity?

 
1 Comment 1
JamesM
QuickBooks Team

How do I add a personal draw as an equity?

Hi there, 

 

Making sure you're recording your transactions the right way is a good exercise for preventing errors in your books. 

 

I recommend contacting an accounting professional to get more info on this. If you're not in contact with one, I encourage you to search for one on our website using this link here. Doing this will help prevent any future discrepancies. Otherwise, here's how to create an owner's equity account in QBO: 

 

Create an owner's equity account in QuickBooks Online

  1.     Click your company name in the top-right corner, and then click Chart of Accounts.
  2.     Click New.
  3.     In the Account window, click the Category Type drop-down arrow, and then click Equity.
  4.     In the Detail Type list, select Owner’s Equity. 
  5.     Enter an opening balance.
  6.     Click Save.

In case you need further assistance, feel free to contact our support team using this link here

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