Payroll

[Tut]

You should not use payroll, as the owner is not an employee. Depending on how you organize your chart of accounts, you either make a draw from your capital account or directly from Retained earnings. See these Guides:

Capital accounts

Capital accounts are used to track funds contributed, drawings and share of profit of business owners. They can be adapted to suit any type of business entity including sole proprietors, partnerships, companies, trusts and funds. [image] Sole proprietorships only require a single capital account. Partnerships require a capital account for each partner. Trusts require a capital account for each beneficiary. Funds require a capital account for each member. [image] By default, capital accounts…

Simplify equity accounting for sole traders / proprietors

Many small businesses are owned by a single person, often called a sole trader or sole proprietor. But Manager’s default account structure accommodates other, more intricate business organizations. So it may encourage more complexity in the chart of accounts than necessary. Every new business created in Manager automatically includes a Retained earnings account, essentially the net of all inflows and outflows, adjusted for various transfers, dividends, etc., since creation of the business. In m…