Recording Partner and Owner Withdrawals Using Manual Journal Entries

Here are instructions for recording partner or owner withdrawals using manual accounting entries in the system.

1. Access Manual Accounting Entries:

   • From the Accounting dropdown menu, click on + next to Manual Accounting Entries.

2. Record Partner or Owner Withdrawals:

   • • • To record the withdrawal transaction, enter the following accounting entry:
         

         Accounting Entry for Owner Withdrawal:

         1. When withdrawing the amount from the company:

         Entry:

         Account	Debit	Credit
         Owner Withdrawals	XXX
         Bank (or Cash)		XXX

       ---

       2. When recording withdrawals as part of owner accounts (if allocated to capital accounts):

       If withdrawals are part of adjusting capital accounts or retained earnings, the entry may appear as follows:

       Entry:

       Account	Debit	Credit
       Capital Account	XXX
       Owner Withdrawals		XXX

3. Complete the Entry:

   • Enter the amount and description for the transaction.
   • Add any attachments if necessary.
   • Click Save to complete the process.