Owner Capital Draw

Discussion in 'Microsoft Accounting' started by sba-user, Feb 4, 2006.

  1. sba-user

    sba-user Guest

    I searched here but couldn't find the answer...

    I created an account under Retained Earnings called Owner Draw for payments
    to myself since I'm not on the payroll. When I go to write a check to
    myself, the program wants an account however, it only allows three options:
    Customer, Vendor and Employee...

    How is the business owner supposed to write checks to himself?

    Thanks.
     
    sba-user, Feb 4, 2006
    #1
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  2. sba-user

    Allan Martin Guest

    What does the word "under" mean?



    When I go to write a check to
    Customers, Vendors and Employees are not accounts.
     
    Allan Martin, Feb 5, 2006
    #2
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  3. sba-user

    visitor Guest

    Set yourself up as a Vendor. Just don't print yourself a 1099 at the end of
    the year. :)
     
    visitor, Feb 5, 2006
    #3
  4. sba-user

    Roy Chastain Guest

    Any comments as to the correctness of this answer?

    Thanks
     
    Roy Chastain, Feb 8, 2006
    #4
  5. sba-user

    Is. Guest

    I would set yourself up as an employee instead of a vendor.

    Just my opinion.
     
    Is., Mar 24, 2006
    #5
  6. sba-user

    pndaccountants

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    Owner's draws are withdrawals of a sole proprietorship's cash or other assets for the personal use of the owner. Each of the owner's draws of cash will be recorded with a credit to Cash...
     
    pndaccountants, Mar 6, 2017
    #6
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