Forum Message

Drawings in Solar Accounts

How is it best to show drawings in solar accounts?


Posted by Brian Humphries on Nov 3, 2009 9:50 PM GMT

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,


Posted by Mark McLaren (Solar Accounts) on Nov 4, 2009 11:32 AM GMT

Where is the drawings account? Should I see this as standard?


Posted by Brian Humphries on Nov 4, 2009 6:47 PM GMT

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,


Posted by Mark McLaren (Solar Accounts) on Nov 5, 2009 9:46 AM GMT