Creating and tracking Owner Draw

Karen Lefkowitz
Karen Lefkowitz Member ✭✭
in Business and Rental Property Tools (Windows)
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
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭
    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 Quicken Windows Subscription SuperUser ✭✭✭✭✭
    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 February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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