Recent Articles

Draw

Any transfer of earnings in a self employment operation to the owner or on behalf of the owner is called a ‘Draw’.

Bookkeeping – Tracking Income Taxes (Lesson 58)

06/17/2017

It is important for the bookkeeper to track income taxes for the business and the owners.  Tracking includes apprising management of current status and pending obligations.  In addition, the bookkeeper must make sure the payments are made to the [...]

Owner’s Draw in Business

06/22/2015

When an owner of a small business operation transfers money from the business bank account to their personal bank account the transaction is commonly referred to as a ‘Draw’.  There are other terms but this is the traditional term used.   The [...]