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Pay a bill via the Owners/Shareholders Drawing Account

AshleyR

My director has used her personal card for a business purchase. She has allocations in the 3-2000 account. She wants me to use this personal card transaction to reduce the Drawings account. How do I do this? MYOB doesn't allow me to use 3* accounts for payments.

Many thanks.

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Tracey_H

Hi @AshleyR

Thanks for your post. One way to deal with this would be to use a suspense type account as the Pay from Account when processing the Spend Money/Pay Bills transaction.

You could then record a General Journal, debiting the suspense type account and crediting owner's drawings, to clear the suspense account and reduce the owner's drawings.

Please let me know if you need further help.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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AshleyR

Still in relation to this issue ...

I've now been asked to set up a weekly deduction from the owner's pay where a set amount will be directed into this 3-2000 account.

Of course I set this up as a deduction and everything works fine (paygw, super, net goes to 3-2000 rather than director). Where I've come unstuck is getting this amount out of Pay Liabilities. There's nowhere for this to go from this window, but all deductions go there.