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how to record drawings?
I can't find where to record my personal 'Drawings' (sole trader).. Where do I go to add a company expense of type DRAWING ??
I’m unsure
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Inappropriate?You record Drawings by explaining the appropriate bank transactions (in the Banking section) as Money paid to user > Drawings.
So they're not expenses at all.
Does that make sense?
1 person says
this answers the question
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Inappropriate?I don't see this option Money paid to user > Drawings in the Banking section. I have a UK Partnership plan. I want to record my own drawings as a partner. I've gone to explain a transaction and I don't see this option under Select a Type or Categories.
I’m perturbed
4 Comments Add a comment
This answers the question
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What type of bank account is it Emily? A business account or a personal one? -
oh gawd, its a personal account. I suppose that answers it... (was sure I've asked you this before too, but couldn't find the answer on here). If that is the problem, then this will shortly be rectified as I'm posting off my biz bank acct. application this afternoon!
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That's the problem right there then. You can't make a drawing from a personal account. If you do withdraw money from a personal account then you simply don't explain it. You're not doing anything wrong in that case.
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Thanks, as always, for the speedy and helpful response.
EMPLOYEE
