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Hello there, finance. I'm here to provide information about paying an owner's draw using ACH or electronic payments in QuickBooks Online (QBO) to maintain clean financials.
Currently, QBO doesn't directly support electronic payments or ACH transfers to owners. Instead, you'll need to issue a standard check. Before doing so, make sure you have set up an Equity account.
Here's how:
Once done, you can create and record checks by following these steps:
For more detailed information on this process, check out this article: Set up and pay an owner's draw.
Additionally, you may find these articles helpful for further insights on owner’s draws:
Feel free to tag me in the comments if you have questions about paying an owner's draw using ACH or electronic payments. I’ll respond as soon as possible.
Do you need to reimburse the business expense to the owner's personal bank account or else?
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