View Full Version : For Quickbooks users - Partners Draw
03-21-2009, 11:10 AM
New Quickbooks user, and new to accounting. I have two partners who work with me about three days out of the week. I know how to enter time worked and figure each of our draws based on that. My question is, is there a way to figure out how much to draw out for each partner based on the amount per job worked, rather than time worked? I don't want to be bothered with tracking time when not necessary.
Thanks in advance!
03-21-2009, 01:17 PM
legally it is based off a percentage of stake in the company or partnership that should have been set up during the start up process. they and you get a percentage of whatever profit is left over from your business activities. just cut the check at the end of the month and put it under a sub account named after the partner in owners draws.
03-21-2009, 01:54 PM
thanks for our response Terrapro, my partners and I each have an equal share in the business. But I work 4-5 days a week and they work for three. So I should be making more than them. I realize I can just run the numbers myself and figure out what we each get paid, but I was just wondering how i would record this in quickbooks without changing our equity.
Hope that makes sense. :rolleyes:
vBulletin® v3.8.6, Copyright ©2000-2015, Jelsoft Enterprises Ltd.