Taxes and planning · Taxes

How do I record money I took out of the business?

ComputerOpen Owner finances, then Owner draws and Record a draw.
PhoneOpen Owner finances, then Owner draws and Record a draw.

Enter the amount, date and account the money came from. This records a withdrawal you already made; it does not move money. If a bank withdrawal is tagged as an owner draw, use Confirm draw on that line instead. Both paths update recorded draws and journal line 3100 as equity, never a business expense. Open Recorded draws for the date, account and Undo. Undo removes the draw and its journal together; a closed month must be reopened first. Until you record a draw, Wealth says “Excludes owner draws: none recorded”; that does not mean you took nothing out.