Owners draw balances

I know a way on how you can see the Owner's draw balances in QuickBooks Online, wk249.

There are three ways on how you can see the balances for both equity and sub-accounts in QuickBooks Online. First, you can view the account's balances by viewing their register.

The second way to view the balance is to run the Balance Sheet Report, scroll down to the Equity section and you'll see the sub-accounts from there along with their balances.

Lastly, you can run the Account QuickReport. See the sample screenshot below.
 

I recommend customizing the report to get the specific details you need. You can also memorize it to save its current customization settings. It serves as your record and helps you quickly access it for future use. 

If you have any other issues or concerns, please let me know by dropping a comment below. I'm always here to help. Have a lovely week ahead!

Ok the reports are useful, however the problem is with me and my partners owners equity. We both started the business with the same amount and have posted a profit since. The owners equity has not increased on charts of accounts so I don’t know how much in drawings we are entitled to. For example we had 1000 in profit from a recent sale. If our owners equity was $250 each to begin with it should be at $750 each now. However it still says $250

Hi there, @wk249,

To trace transactions under your name, you can tag hem using the Class tracking feature. This way, you're able to identify the entries easily just by looking at the reports. You may consider the following steps:

1. Tap the Gear icon and choose Account and Settings.
2. Go to the Advanced tab and pick Categories.
3. Mark the Track classes to turn on class tracking. 
4. Select Save and then Done.
   

Once set up, you can assign these classes on your draw transactions. See this example:

Once you have the transactions tag, you can open any reports and filter by Class or Location. To learn more about how this features work and how to use them, check out these links:

• Set up class tracking.
• Set up and use location tracking.
• Video tutorials for QuickBooks Online.

Feel free to get back to me for follow-up questions about this or if you need other things with QuickBooks. I'll be right here to help. Have a good one!

I dont have "Categories" in my advanced settings. The problem im trying to figure out is remaining available balance to draw. By this I mean how much profit I am entitled to. Is there a way to see something that shows total profit split between two partners. And the amount they can withdraw. For example , it would be like "Your total share of profit is $500, you have withdrawn $200 and have $300 remaining". Hard to explain it

Hello, wk249.

The class tracking feature in QBO lets you monitor your income, expenses, or profitability by business segment. Also, you can separate reports per investor. Class tracking is only available in QBO Plus and Advanced.

Here's how:

1. Click the Gear icon.
2. Select Account and Settings.
3. In the navigational bar, click Advanced.
4. Select Categories.
5. Check off Track classes to turn on class tracking.
6. Click Save and then Done.

For additional information on using classes, I recommend the following links:

• Get started with class tracking in QuickBooks Online
• Track your transactions by class.
• Run reports by class.

Let me know if you have other concerns with QuickBooks. I'm right here to assist anytime. Stay safe always.