What Is the Owner’s Draw in QuickBooks?
How to Set up Owner’s Draw in QuickBooks Desktop?
- First of all, go to QuickBooks Desktop.
- After that, click on the Lists option.
- Then select the Chart of Accounts option.
- After that, press and hold the Ctrl + A keys together.
- Then tick the mark on Account.
- Then open a New Tab after that, click on Equity.
- In Equity, type “Owner’s Draw” in the Account Name section and save the changes.
- After that, go to the “Banking” tab and checklist the “Write Checks” option.
- Then go to the “Pay to the order” section and select the owner.
- Enter your amount to be withdrawn here.
- Then go to the Detail section and check if the equity amount is filled up for creating the owner’s draw.
- And lastly, save all the changes by going to the Save & Close option.