how do i set up drawings as payment to myself, ive always tagged it as wages but my accountant said it should be "drawings"

Hello there, info1493. Let's review your QBO setup together and guide you through creating an equity account to record your draws without processing payroll.

An owner's draw account in QuickBooks Online (QBO) is a type of equity account that tracks withdrawals an owner makes from the business to pay themselves.

Before processing an owner's draw, you'll first have to set up an Owner's Equity Account. Make sure to choose Equity or Owner's Equity as the account type during the setup process. You can follow the steps below:

1. GO to the Accounting menu and select Chart of Accounts.
2. Click New in the top-right corner.
3. Select Equity as the Account Type, and check with your accountant on the appropriate Detail Type.
4. Assign a name to the account, enter a beginning balance and specify the as-of date.
5. Click Save and Close.

Once your Owner's Equity account is finalised, you can then record your payments through a standard check rather than payroll. 

Here's how:

1. Select +New or +Create on the left-side menu.
2. Select Cheque.
3. Choose the bank account where the funds will be withdrawn.
4. Fill out the check details.
5. For the Account field, pick the equity account created previously.
6. Click Save and Close.

While these steps cover the technical side of QuickBooks, it's also best to verify this setup with your accountant. They'll help ensure your drawings are being recorded correctly for tax purposes.

Feel free to reply to this post if you need any other QBO inquiries. We're always here to help.