Sole Traders


I

Iprimus

I have just bought QuickBooks Lite (just setting up). I have all the Chart
of Accounts and have entered YTD transaction history. All the balances look
ok.

Now as a sole trader all the net income is to be part of my personal income
tax :

Question: I have the money in the bank, how do I draw from that account and
what chart of accounts do I use (owners equity? then Draws?) if so how do I
journal the money there...?
I have searched the books and had a look on the Quicken site but it must be
so simple that it doesn't warrant a mention.

Any help would be appreciated.

Alex
 
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