3200 Owner's Draw
Money you take out of the business for yourself. Not an expense and not salary; it reduces equity. A contra-equity account.
In Solo Superstars
Categorize a transfer to your personal account here. The year-end close rolls the year’s draws into Owner’s Equity. Multi-member LLCs get a separate Member Distributions account (3210).
Example
A $3,000 transfer to your personal checking: debit 3200 3,000, credit 1010 3,000.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- draw
- distribution
- QuickBooks: Owner’s Draw
Related
- Owner draw — Money you take out of the business for yourself. Not an expense and not salary; it reduces equity.
- 3000 Owner's Equity — The owner's overall stake in a sole proprietorship or single-member LLC. Contributions, draws and retained earnings roll into it over time.
- Year-end close — Closing the fiscal year: zeroing revenue and expense accounts into retained earnings, rolling owner draws into equity, and locking the year.
- Chart of accounts — The list of buckets your money can be sorted into: assets, liabilities, equity, revenue, expenses. New workspaces start with a default set you can rename or extend.
- Default chart — The chart of accounts every new workspace starts with, numbered the way QuickBooks users expect. Yours may have been renamed or extended since.