QB Issue Resolution:
I can share some information about how to handle business expenses in QuickBooks Online.
Yes, you are correct. Any withdrawals from your business income account are considered as an expense.
To give you a better view of handling this kind of situations, I’m including some great articles that you can read:
- About mixing business and personal funds
- How to pay for business expenses with personal funds
- How to pay for personal expenses from a business credit card or bank account
In the future, you may find these articles helpful:
Resolution for Issue 'I have set up Equity…owner’s draw…I did a withdraw from my income account to pay myself and labeled it as owner’s draw. That withdraw is showing as an expense? is that correct?' available: Yes (Solved).
Source: Intuit Community forum.
I have set up Equity…owner’s draw…I did a withdraw from my income account to pay myself and labeled it as owner’s draw. That withdraw is showing as an expense? is that correct?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Bank Account
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