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I have set up Equity...owner's draw...I did a withdraw from my income account to pay myself and labeled it as owner's draw. That withdraw is showing as an expense? is that correct?

 
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Best answer 07-16-2019

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Moderator

Re: I have set up Equity...owner's draw...I did a withdraw from my income account to pay myself a...

It's good to have you again in Community, teld9d.

 

I can share some information about how to handle business expenses in QuickBooks Online.

 

Yes, you are correct. Any withdrawals from your business income account are considered as an expense.

 

To give you a better view of handling this kind of situations, I'm including some great articles that you can read:

In the future, you may find these articles helpful:

If you have any additional questions in handling your transactions, please let me know. I'm always here to further help.

View solution in original post

1 Comment
Moderator

Re: I have set up Equity...owner's draw...I did a withdraw from my income account to pay myself a...

It's good to have you again in Community, teld9d.

 

I can share some information about how to handle business expenses in QuickBooks Online.

 

Yes, you are correct. Any withdrawals from your business income account are considered as an expense.

 

To give you a better view of handling this kind of situations, I'm including some great articles that you can read:

In the future, you may find these articles helpful:

If you have any additional questions in handling your transactions, please let me know. I'm always here to further help.

View solution in original post

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