How did my partner and I get money out of business for personal expenses? From drawing or share of profit.
It dspends on how you get the money. A loan, a liability (anticipations on expenses), a distribution of profit or a partial refund of equity. And also to your local laws.
Distribution of Profit
Enter a payment and post it to your capital account. Such payments are drawings. A share of profits applies when distributing Retained earnings to capital accounts.
In this specific case is a payment vs. a retained earnings.