How do I set up an owners equity account like in Quickbooks?

edited November 26 in Paying Bills (Windows)
I am trying to get quicken to have an equity line for cash deposits like quickbooks does with an owners equity account. Otherwise it shows it as income or expense. This cash was taken out from an earlier deposit and retained as cash so when it is deposited it is not income or expense just using the same cash that was earned before. Donna

Comments

  • volvogirlvolvogirl SuperUser ✭✭✭✭
    edited March 2017
    Not possible. Quicken is for personal finance not actual bookkeeping. When you entered the earlier deposit did you split part of it to the cash account?

    By the way, if you are self employed and fill out schedule C you do not report any amounts you take out for yourself or keep in the business. You just record income and actual expenses.
  • ps56kps56k SuperUser ✭✭✭✭✭
    edited December 3
    We have a simple warehouse that we rent, and was looking at the same task - how to handle the "payout" from the excess cash holding.  Looks like we will be getting some profit checks this month... December 2019 -

    So - as suggested in another thread - I will probably just create an "expense" entry for "owner equity" to keep track of the payouts.... not totally the way to handle it, but guess ok for keeping the checkbook balanced. 
    Quicken 2019 Deluxe - Subscription - Windows 10
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