How to record owner withdrawals

Step 1: Open Payables

Open Payables & Disbursements and press Owner Withdrawal.

Step 2: Record it

Enter the Amount, where it was taken from (Withdraw From - cash, bank transfer, card, cheque or other), the date and a note, and press Record Withdrawal.

Why it matters

Money you take for personal use is not a business expense, so it must not reduce your profit. ChecKmate posts it to Owner's Drawings (equity). It shows on the Statement of Changes in Equity as owner's draws.

Good to know

• Cash taken from the till for yourself should be recorded here too, not as a Cash Out expense.