How to add proprietors drawings

[cookie11]

hi, im new to quickfile & am slowly getting used to using it but i cant find where i can put my own monthly drawings in the bank account.
i have found a propretor drawings account but this doesnt seem to be tied to the bank account…
ie take £1000 per month as my wage .
how & what do i do for it to show how its taken from the bank account.
thanks in advance.

[rhc]

Hi,
Enter a money out transaction over £1000 in your bank account (the bank account you pay yourself from) in quickfile. Click on the red tag button and click on transfer between accounts and click on your drawings account. That will create a money in transaction in your drawings account.
Physically you take out the money from your business bank account and put it in your private bank account or pocket or so…

Hope this helps

[cookie11]

I dont use a business account. my business is only small so I use one of my personal accounts.
also i might not actually take the money out but just put a figure in as takings & use it bit by bit.
thanks for the reply.

[rhc]

Hi,
It doesn’t matter whether you have a business bank account or not. The main bank account in quickfile is your “current bank account” for your business. If you use a private bank account where you also have private transaction (not related to your business) you shouldn’t use a auto-bank feed, instead enter your business related transaction manually.
So, if you pay yourself (one big amount or a few small amounts) use the tag button in your “current bank account” and transfer between bank account and click on your drawings account. In your case your current bank account and your drawings account are just virtual bank accounts. What you do in real life with your money is completely up to you as long as all business related transactions are correctly entered in quickfile.

Also, I would recommend to have a separate bank account (private or business) solely for all your business transactions to keep everything tidy and easy to look at. But it is of course up to you.

Hope this helps

[cookie11]

many thanks,
im new to quickfile as i have used quickbooks for the last 20 years or so.
would it be too much to ask if you could add a step by step for adding another account on quickfile & how to manually transfer vertual money to the account from my main account.
again many thanks.

[rhc]

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In general the knowledge base is a good start for most things and is worth reading specially for new users. If it becomes more complex then the forum is a brilliant source .

Knowledge Base