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CH100
Level 1

Where does owners withdrawal show in P & L ?

On Quick Books Self employed where does owners withdrawal show in the P & L ? Does it even show? 

Is it to be taken from the profit line? or is the profit showing after the Owners withdrawal equity has been removed? 

4 REPLIES 4
MJoy_D
Moderator

Where does owners withdrawal show in P & L ?

I can help you with locating your owners' withdrawal transactions, @CH100.

 

The Profit and Loss report in QuickBooks Self-Employed (QBSE) only includes income and expenses you've categorized using SA103F categories. You can refer to this article on how each category shows up on your reports: About SA103F Categories.

 

The Owner's withdrawal isn't part of SA103F categories. It's the money you pay yourself from your self-employed business funds. It's also considered a Transfer

 

In the meantime, you can go to your Transactions tab and filter it to show all your Owners' withdrawal transactions. Here's how:

 

  1. Go to the Transactions tab.
  2. Set the Type to TransferAccount to All, and Date

 

You now see all your Owners' withdrawal transactions

 

Refer to this article for more information about adding sales income and expenses: Manually add transactions in QuickBooks Self-Employed

 

Check out the following article for more information on downloading transactions from your bank and importing it to QBSE: Manually import transactions into QuickBooks Self-Employed.

 

Please let me know if you have any questions about your owners' withdrawal transactions by leaving a reply below. Keep safe, and enjoy the rest of the day!

paul72
Level 8

Where does owners withdrawal show in P & L ?

Hi @CH100 

 

Owner's Withdrawal (Drawings) is taken from After Tax Profit.  It's like your nett wages/salary.

As such, it won't usually be shown on P&L Reports.

 

Hope this helps.

Jeanette 1
Level 1

Where does owners withdrawal show in P & L ?

When doing a self assessment tax return do I then have to add my salary back in ? 

Ashleigh1
QuickBooks Team

Where does owners withdrawal show in P & L ?

Hello Jeanette1, thanks for posting on this thread, yes you need to add the salary manually on the self-assessment. 

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