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Lumin
Level 2

QBSE reports owner draw and taxes

I'm on Quickbooks Self Employed. I'm looking for a report that will help me calculate available pro AFTER owner's draw and taxes paid. Essentially I'm looking to know how much cash is available to make future owner's draws.

 

The P&L report does not include business transfers (where Owner's draw is categorized). This kind of transfer also doesn't show on any other canned report. From what I can see, there's no report to show owner's draw from the business in QBSE? If so, how are you determining available cash to withdraw?

2 Comments 2
ReymondO
Moderator

QBSE reports owner draw and taxes

Good day, @Lumin.

 

QuickBooks Self-Employed (QBSE) only calculates the business expense and income transactions. This won't include personal transactions such as the owner's withdrawal. This is the reason why you're unable to see them on your financial reports.

 

This feature is available in QuickBooks Online (QBO). If you wish to upgrade your subscription, you can check out this article: How to move your QBSE data to QBO.

 

Moreover, you can review your available bank balance by logging in to your bank's website. 

 

Should you have any follow-up questions or concerns, don't hesitate to post again here in the Community or leave a comment on this thread. Take care and have a good one.

Lumin
Level 2

QBSE reports owner draw and taxes

Good day as well. Thank you for the quick reply.

 

Although it doesn't make much sense that QBSE doesn't report on this. It's a withdraw out of a business bank account. I don't see why movement of money to or from a business account would be considered personal and/or not be made available in reporting. 

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