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Level 1

Owners draws?

I am a solo proprietorship and am having trouble with owners draw. Can someone explain how to account for owners draw starting with the bank feed.

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Best answer July 21, 2020

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Level 15

Owners draws?

When you write a check to yourself, that is an owner draw.  Owners Draw is the expense (reason) for the check.  So when you see the bank feed that is the "expense" account you select

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Level 15

Owners draws?

When you write a check to yourself, that is an owner draw.  Owners Draw is the expense (reason) for the check.  So when you see the bank feed that is the "expense" account you select

View solution in original post

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