How do I set up payment to take an owners draw?

It mostly depends on how you set up your business, phoenixcreations. 

You can check in this article on how different types of businesses handles Equity accounts.

We'll need to create an Equity account to get started with setting up the payment and then write a cheque from the owner's draw account. 

Here's how to create an account and it's best to consult an accountant to help you identify the appropriate accounts: 

1. Go to the Accounting menu and select Chart of Accounts.
2. At the upper-right click New. 
3. Select Equity as the Account Type and follow your accountants advise for the Detail Type. 
4. Enter a name for this account and enter a Beginning balance and it's as of date. 
5. Click Save and Close. 

Let me show you how to set up payment using a Cheque:

1. Click the New ( + ) button from the left panel. 
2. Select Cheque.
3. Choose the bank account where your funds will be withdrawn.
4. Fill in the rest of the cheque information. 
5. In the Account field, select the equity account we set up.  
6. Click Save and close. 

If you have further questions you can always reach out to me. We'd also recommend speaking with an accountant to confirm they are happy for you to record owners drawings this way. Thanks!