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hoseyinc
Level 1

As a sole proprietor how do i categorize a payment to myself from my business account?

 
1 Comment 1
Anonymous
Not applicable

As a sole proprietor how do i categorize a payment to myself from my business account?

Hello, hoseyinc.

 

If this is a payment to yourself for the expenses you've temporarily shouldered for the company,you can create a  vendor representing your self then create an expense transaction. 

 

However, if you're paying yourself as an employee of your company, you don't have to pay yourself. These payments would be considered equity distributions to you from the business. you can consult your accountant for further assistance on categorizing this in your books. 

 

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