Quickbooks is the world's most popular accounting software. Its popularity is due to a variety of factors. One of the factors is the owner's Quickbooks draw.
We'll examine How to Set up Owners Draw in Quickbooks in this tutorial. We'll also look at how to set it up for different versions of Quickbooks, such as Quickbooks Desktop and Quickbooks Online.
But first, What is the Owner's Draw in Quickbooks?
What is the Owner's Draw in Quickbooks?
An owner's draw account is a type of equity account that allows you to track the company's asset withdrawals to pay an owner.
That is why it is critical to keep track of the company's assets and, eventually, pay an owner. Let's look at how to set up the owner's draw in various Quickbooks versions.