Owners income
I am a sole trader running a gardening business. My customers pay by directly into my business account and I draw all payments out into my personal account (as income). What should I be allocating ...
Forum Discussion
Hi Evergreen3
Thanks for your post. Generally speaking any money you draw out of your business into your personal account would be allocated to an equity account. If you want you can rename the accounts to avoid confusion: Accounts list.
If you are not sure on which accounts to use in your situation I would recommend speaking to your accounting advisor.
