How is it best to show drawings in solar accounts?
Hi Brian,
Assuming you are self-employed, the simplest way is to record a General Transaction from the 'Cheque Account' to the 'Owners Drawings and Personal Use' account.
Cheers,
Where is the drawings account? Should I see this as standard?
Hi Brian,
If you chose a 'self-employed' business type when you initially set up your accounts, the "Owner's Drawings and Personal Use" account will be listed under the Equity section of the Accounts list. Otherwise you will need to create a new equity account with this name.
Note that Limited Companies should not use this account, but rather record dividend payments as described here:
http://www.solaraccounts.co.uk/help/how-to-record-a-dividend-payment.php
Cheers,