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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?
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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.
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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.
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