Sole Trader Wage
Hello, I am self-employed. I'm trying to pay myself a regular weekly wage. How should I code this as it's not through payroll? I'm also paying myself super. Would this be under Equity or Expenses...
Forum Discussion
Hi Kelly_C
This is really a question for your accountant. Ask then how you should record amounts you take out of the business. As a sole trader you cannot pay yourself a wage. Some prefer to refer to it as a loan, some use drawings etc. As your accountant will likely prepare your tax return, get advice from them.
Regards
Gavin
