So, I am a single person S Corp in NY.
I pay myself a monthly wage, and drawdown form the Business account when needed.
My questions are as follows.
My drawdowns are obviously just transfers from the business account to my personal account.
Do I classify them both as transfers, one from the business account and one to the business account ? Or should I classify one as a transfer, and the other as an entry to an equity account (owners pay and personal expenses)
And the wage debits from my business account, I should classify them as entries to the Wage expense account ?
