owner cash withdrawals before deposits

The owner of a business should not be a vendor, but if you wish it does not hurt.

Typically you make a deposit and on the deposit screen is a block to select a cash back account, select the owner equity drawing account and fill in the amount

I don't have that deposit option.  I run a cafe/diner.  My daily cash deposit are from food sales.  So at end of day when I close out I may take a cash owner draw from the deposit.  On my paperwork I note it but how do I not it here in quickbooks.  On here I just see the bank register that I categorize of the deposit I made with the owner draw already removed.  Does that make sense.  Sorry.

I can imagine the challenges you've been through for months now, @Hogwild3.

I'd be delighted to share some resources on how you can receive your customer's payments and deposit them to your connected bank account in QuickBooks. Let's get started.

You have different ways to record your customer's invoice payment:

• Via the Receive Payment page
• By recording a Sales Receipt
• By making a Deposit

In all of these options, you may deposit the payment directly to your bank account instead of using the Undeposited Funds account. Just make sure to select the desired bank account on the Deposit To section.

On the other hand, if the bank account where the invoice payments are actually deposited and posted is connected with QuickBooks, your bank transactions will be downloaded automatically in the system. You can see these transactions listed under the For Review section of your screen.

1. Go to Banking.
2. Select Banking tab.
3. Choose the bank account.
4. Under the For Review tab, you'll see a list of your downloaded bank transactions.
   • Click the Add button if the transaction doesn't have a similar one that you've manually added.
   • If the system finds a match to the downloaded transaction, it will be displayed on the Categories and Actions column.
   • Open the match transactions to review the details. Once verified, click on the Match.

By matching transactions, you'll avoid getting duplicate records of your transaction in the bank register.

You can always get back to us here in the Community if you have other questions about receiving payments and depositing them in QuickBooks. I'm always here to help.

Hi @Hogwild3 

In my view, you should record your full cash sales by "Sales Receipt" in Quickbooks. This will increase the "Cash in Hand" in Quickbooks. This way you can track your actual sales. In the process you are currently following, your actual sales do not get recorded in Quickbooks. Only the net sales is recorded.

Secondly, you should record "Owner's Draw" in Quickbooks equal to the amount you withdrew from your cash sales. you should choose to pay from "Cash" option while making the draw entry. This will result in reducing the "cash in hand" in Quickbooks.

There is no need to enter any "checking account" as you are withdrawing from cash balance only.

Hope this solves your issue.

A bit confused for months haha.  So I have no invoices. The sales are food sales in a restaurant. My deposits are cash and credit card only and both link to accounts link to quickbooks.  So my question...let's asay yesterday I deposited my sales but before heading to the bank I take a 100 cash draw.  How do I account for that? I wrote checks in quickbooks but when ask what account  I am writing the check from I am confused.