USA Personal expenses on QBO

[ericmday]

Hello. I’m a small eBay business, grossing about 100k a year, average sale $35. I sell used items. Sometimes I will purchase something for myself, using my credit card. I will use sales generated from my eBay store to pay off my credit card each month. Some transactions are personal, most are business—sourcing, meals or gas. My question is: in what category do I put those personal transactions? When I buy a dozen worms on my credit card so I can go up to the lake and fish, where do I put that transaction in QuickBooks Online? I see Owner Draws: Equity, and Owners Equity: Equity. I want to do the right, thanks for helping. Eric

 

[BIG E]

It's considered Owner Draws because it doesn't effect the Profit/Loss accounts for determining business income.
At year end, the Owner Draws account gets or should get closed out as a reduction to Owners Equity.