CATCHCLAW
03-09-2005, 01:01 PM
I have set up my accounts so that the owner draw account is classed as "equity-gets closed". Way back in 2000 it was set up so that it didn't close. The draws from 2000 come back to haunt me almost every year it seems. Last year I see a journal entry where I credited Draw & Debited Retained Earnings.
This year the amount is back!
How do I get rid of it??? Forever????
This year the amount is back!
How do I get rid of it??? Forever????