When I look at the "Balance Sheet", it shows owner draws as a current amount in an equity account. I wish to know how can I determine what the owner draws total would be for a fiscal year? I am going crazy trying to find this information without having to manually add up the checks that were written for owner draws.
Thanks in advance for any help, Bill
Double click on owner's draws in the chart of accounts to open the register. Then right click somewhere in the owner's draws register and select quick report. Change the dates to the fiscal year that you want!
Michelle L. Long, CPA, MBA Author of: Successful QuickBooks Consulting: The Complete Guide to Starting and Growing a QuickBooks Consulting Business
Double click on owner's draws in the chart of accounts to open the register. Then right click somewhere in the owner's draws register and select quick report. Change the dates to the fiscal year that you want!
Michelle L. Long, CPA, MBA Author of: Successful QuickBooks Consulting: The Complete Guide to Starting and Growing a QuickBooks Consulting Business
On January 1st of each year make a journal entry crediting owners draw and debiting owners capital for the amount of draws taken in the prior year.
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