QB Issue Resolution:
Yes, you are correct, Category = Equity, Detail type = Owners Equity, Name = Owners Equity Draw?
there is no such thing as a contra type account, contra refers to how the account is used
I recommend you have the following for owner/partner equity accounts (one set for each partner if a partnership)
[name] Equity (do not post to this account it is a summing account)
>> Equity Drawing – you record value you take from the business here
>> Equity Investment – record value you put into the business here
Resolution for Issue 'Owners equity draw.' available: Yes (Solved).
Source: Intuit Community forum.
Owners equity draw.: 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 CategoryEquity
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