Personal purchases on business bank account for a sole trader

[KatarinaJ]

Hi,

Could i please have some advice?

If  a personal purchase is made from for a sole traders business bank account is this accounted as drawings?

Would i set up an account (Drawings-Personal purchases)? Then use spen money in banking and record purchase to this account.

Many thanks

Katarina

[Marilyn · Accepted solution]

Good afternoon Katrina,

Well done Katrina, you have listed exactly how I would handle a purchase by a Sole Trader

Congratulations

cheers

[KatarinaJ]

Thank you Marlyn

[SuePerth]

Is this Drawing for personal use under the Owner's equity?