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How to record payments to myself from business checking to personal as the owner

Midwife_AmberMidwife_Amber Member Posts: 2

In Wave, How do I record payments to myself from my business checking to my personal account as the owner? It's different from payroll so I'm not sure how to appropriately record this. Thanks!

in Accounting Technical Support

Comments

  • Petra_BPetra_B Member Posts: 37

    @Midwife_Amber, I know a couple of people on here use payroll to pay themselves, but if you just taking profit from your business and giving to yourself, you can just do an expense from your bank account. Choose "Owner's Investments/Drawings" as your category and voila! That's all you have to do!

    I mean you'll have to figure out your taxes and all, but that's how you enter it for your business.

  • Midwife_AmberMidwife_Amber Member Posts: 2

    Thank you Petra_B! Perfect!

  • Petra_BPetra_B Member Posts: 37

    Hey! No problem!

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