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Track Cash Withdrawals in QuickBooks

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Track Cash Withdrawals in QuickBooks

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  1. akkinad on Oct 27, 2012 reply

    Instructions
    Tracking Withdrawals as Draws

    Create an equity account named Owner Draws
    Hold the Ctrl and N keys. Under the Type of account menu, locate Equity and click it, then click Continue. The Add new account window will open.
    Enter the term Owner’s Draw into the Account Name box.
    Click Banking in the menu bar. Scroll down to the Transfer Funds option and click it. The Transfer Funds window . Enter the details of the transfer from Checking
    Choose the Checking account in the Transfer Funds From box. Click the arrow and scroll down to the Checking account. Choose the Draws account
    Enter the amount of cash withdrawal into the Transfer Amount box. Click Save & Close to close

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