Since I started using Manager I have been classifying "Drawings"as an expense that appears on my Profit & Loss Reports.
I’ve recently been told however that Drawings should not be classified as an expense and also they should appear on a Balance Sheet instead of the Profit and Loss Report.
After searching the forum, I found out that Drawings should be classified in an account under “Equity”.
If I’m correct with the above info, could someone please let me know how I can transfer all of the transactions listed in the Expenses / Drawings account to a newly set up Equity / Drawings account ?
Should I just enter the transactions manually one by one or is it possible to either transfer the transactions in bulk or export them from expenses and import them to Equity?
The easiest way would be - from the Summary tab, click on the P&L Drawings blue balance figure.
This should list all the transactions, now click EDIT beside each one and change the Account allocation to Equity Drawings. This will transfer them one by one.
Thanks Brucanna,
I feel like a goose now, I should have thought about that myself 