For Quickbooks users - Partners Draw

Discussion in 'Business Operations' started by HAS0586, Mar 21, 2009.

  1. HAS0586

    HAS0586 LawnSite Member
    Posts: 19

    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!

    - Hunter
     
  2. terrapro

    terrapro LawnSite Bronze Member
    Posts: 1,234

    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.
     
  3. HAS0586

    HAS0586 LawnSite Member
    Posts: 19

    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:

    - Hunter
     

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