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I just want a report on owners draw. how do i run that report

 
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Best answer 10-15-2018

Accepted Solutions
Established Community Backer ***

open the chart of accounts, use run report on that accoun...

open the chart of accounts, use run report on that account from the drop down arrow far right of the account name

For a company taxed as a sole proprietor or partnership, I recommend you have the following for owner/partner equity accounts  (one set for each partner if a partnership)

[name] Equity (do not post to this account it is a summing account)
>> Equity
>> Equity Drawing - you record value you take from the business here
>> Equity Investment - record value you put into the business here

2 Comments
Established Community Backer ***

open the chart of accounts, use run report on that accoun...

open the chart of accounts, use run report on that account from the drop down arrow far right of the account name

For a company taxed as a sole proprietor or partnership, I recommend you have the following for owner/partner equity accounts  (one set for each partner if a partnership)

[name] Equity (do not post to this account it is a summing account)
>> Equity
>> Equity Drawing - you record value you take from the business here
>> Equity Investment - record value you put into the business here

Experienced Member

Re: open the chart of accounts, use run report on that accoun...

and how do you use these accounts, when taking money out of the business? Can you provide a step by step walk through of which accounts are debited/credited. I assume money is withdrawn from the actual bank account so that should be deducted, but then how is the Equity "Owner Withdrawal?" account used?  etc. Thanks.