Owner's Draw setup under Equity group

Brian Hagen bdhagen at fastmail.com
Sat Mar 11 15:25:22 EST 2017


Hello, all:

     I am using GNUCASH 2.6.14 under Linux Mint. I want
to add an account to the parent group "Equity".
I want to call it "Owner's Draw", but if need be I
will name it something else. What I want is a way to
register the funds withdrawn from Cash for personal
use, and have the transaction debit correctly from both
Cash and Equity accordingly. From what I have read for
standard accounting practices, this is the way professional
bookkeepers do these changes.

     According to what I have read, this should be a "temporary
account" in the sense that is to be closed out completely
at the end of a fiscal term, usually one year.

     So far, I have created an account as I just
described. However, I am not certain that it
is working as intended.

Any suggestions are certainly welcome.

Brian


More information about the gnucash-user mailing list