I am the sole proprietor of a small business ,I operate with my SSN, do I pay my self simply by writing a check to my self or there is a proper way to do that? If I write a check to my self ,which category do I enter this expense in my quickbooks and if I do that how do I prove my income to someone? Thank you for your help
Small business owner, how do I pay my self?
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Set up an equity account called Owner Drawings and expense the cheque against that account.
If you want to get a little fancy, set up the Owner Drawings account as a sub account of the Owner Equity account.Participation is voluntary.
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