Multiple owner's withdrawal question

MustafaMohsen

I have the following situation, which I need help on how to record properly:

My partner and I have equal shares in the company. We both provide services and charge for it. Sometimes any of us keep what he charges from the customer for himself, as a part of his share

My questions are:

1- Do I need to set up specific accounts to record these transactions properly? If so, what and where?
2- What's the "proper" workflow for recording these transactions?

Thanks

Edit

Another situation: Sometimes one of us charges the customer, then we split the payments directly. Please note that all of the mentioned withdrawals are for personal expenses

AlexL

@MustafaMohsen Hi Mustafa, thanks for reaching out! To be clear, you should be reaching out to an accountant to get this resolved as these are slightly more complex accounting questions. In general we do have an Owner's Equity account which you can use to record these transactions, but an accountant would be able to give you more info on how exactly to handle this.