Thank you for providing details about your concern, SamanthaSB.
I'd like to share what I know about equity account.
QuickBooks lets you set up an owner's draw account to track withdrawals of the company's assets to pay an owner. Let me show you how to create an Equity account in Quickbooks Online.
Here's how:
- Go to the Gear icon, and then select Chart of Accounts.
- In the Chart of Accounts window, select New.
- From the Account Type drop-down, select Equity.
- From the Detail Type drop-down, choose Owner’s Equity.
- Enter an opening balance.
- Select Save and Close.
Also, you can edit a reconciled transaction to change its category. You just have to undo the transaction so that you can edit it and then manually reconcile it. Here's an article that will show you how to undo reconciled transactions: Undo or remove transactions from reconciliations in QuickBooks Online.
I suggest that you consult an accountant for other options to track self-payment and before you update any reconciled transactions.
Post a reply below for follow-up questions and clarifications. I'll be in touch. Have a great week!
