Shareholders · Guide 190 of 624
Owners drawing a salary from equity
In some businesses, owners take money out instead of a salary. RockifyERP records this as drawings against equity.
How to do it in RockifyERP
- Create a Drawings account under Equity.
- Record each withdrawal with a payment entry or journal entry: debit Drawings, credit bank or mobile money.
- At year end, your accountant closes drawings against the owner’s capital.
Tip: If the owner is also an employee on payroll, pay them through payroll instead.
Need more help with RockifyERP?
Can’t find what you’re looking for? The RockifyERP support team can walk you through it. Contact RockifyERP support.