Hello, I'm a pretty new user, and I have a question about how to categorize my paid credit card bill. I have both my business checking and my business credit card connected in my accounts, i.e., all my transactions automatically sync into QB. I'm clear on categorizing the expenses that come through on my credit card. Where I get confused is in how to categorize the payment of my credit card bill that I pay from my business checking account. If I call it a "credit card payment", it shows up as green, which (I think) means that QB sees it as someone who has paid for something I've provided to them. Correct? So, do I categorize that payment from my checking to my credit card as a "Transfer"? All the other Community topics in this area seem to relate to regular QB, not my Self Employed version, and I've learned these are very different products... Thanks in advance!
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Hello, I am a sole proprietor using QuickBooks Self-Employed and would like to set up Owner's Draw. I'm new to this, so unfortunately I've just been writing myself checks from my business account and depositing in my personal account. In other posts in the QB Community, I see that I should set up an equity account in the 'Chart of Accounts' in the gear icon. However, I don't have a Chart of Accounts there. All I have are my Bank Accounts where I sync with my business checking and my business credit card. All that shows up there is an option to connect another account. So, how do I set up that elusive equity account? Thanks in advance!
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