what account to put Draws in?

oops, I forgot to explain. I work for an LLC where the owner uses some money from the corporate banking account. This is supposed to be a "draw," right? What account does it com from? QB Help says an equity account.

"Jim" wrote

Owners draws are a reduction of equity. Kind of like a contra account.

Generally:

Equity Retained Earnings Owner's Draw

There may be other equity accounts.

Thanks, Paul. I had it listed in Quickbooks as an expense account. QB would not let me put it in Retained Earnings.

"Jim" wrote

It's not a "Retained Earnings" account or subaccount.

It is an Equity type account though.

If you wanted to run it as an expense, show it as "Other Expense" and know that it's an add-back to net profit for tax purposes. That's probably more useful for you than showing it correctly as an equity account.