Creating and tracking Owner Draw

Karen Lefkowitz

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?

UKR

Please review this discussion:

https://community.quicken.com/discussion/comment/20039152#Comment_20039152

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.

UKR

Please review this discussion:

https://community.quicken.com/discussion/comment/20039152#Comment_20039152

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

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.