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Accounting

Owner draw

Definition

An owner draw is money the owner takes out of the business for personal use, which is not a business expense.

Record draws in their own equity account rather than expensing them. Mixing personal spending into business accounts makes the books unreliable and complicates a sale or a loan.

Related terms

Accounting

Chart of accounts

The chart of accounts is the list of categories your bookkeeping uses to record income, costs, assets and debts.

 Accounting

Net profit

Net profit is what remains after all costs, including payroll, rent, card fees, interest and taxes, are taken from sales...

 Accounting

EBITDA

EBITDA is earnings before interest, taxes, depreciation and amortization, a common measure of operating profit used when...
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