USA How do I pay myself?

Nov 16, 2020
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United States
I'm not sure how to explain this, so I'll try my best.
I'm self-employed.
I do freelance work for a website.
I don't know how to pay myself though.
I mean I don't know how to make the journal entries for my accounting books.
So far my books just look like a fancy checkbook.

I was told by my tax person to have a separate account for my freelance payments and a personal bank account.
I pay myself out of my freelance payment bank account to my personal bank account once a month, sometimes(I lost work after COVID and couldn't pay myself some months).

I don't know how to classify these listings when making journal entries though.
The money I make freelancing is income.
The money I pay myself is categorized as dividends.

Also, I have no expenses.
Should I put my earnings in retained earnings?
And then take some out of retained earnings into dividends?

Should I have separate books for each bank account?
I'm using GnuCash for bookkeeping.

If I need to give more info, please let me know.
I'm kind of new to accounting, so I apologize if this is a dumb/weird problem.


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