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Creating and tracking Owner Draw

How do I reflect Owner's draw in Quicken? I used to use Quickbooks, but have transitioned to Quicken and the account I set up for Owner's draw is reporting as "Unspecified Business Expense". Is there a better way to do this?

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Answers

  • UKR
    UKR SuperUser ✭✭✭✭✭
    Accepted Answer
    Please review this discussion:
    There are other, related discussions on this subject, if you'd like to read more. Perform a Search in the Community on "Owner Draw" and read them.


  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    In Q, you and the business are considered to be a single tax entity (if the data for both is in a single Q data file).
    THUS, there's no such thing as an "Owner's Draw".  It's simply a transfer of funds from your business pocket to your personal pocket ... recorded in Q as a transfer.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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