An example of how to record a private withdrawal from a sole proprietorship. In practice, this means transferring money from the company's bank account to the owner's personal account. The transaction type is selected as "Other transaction." On the Debit side, a relevant account representing private withdrawals is chosen, for example, 2365 Private Withdrawals in Cash. On the Credit side, an account representing the bank account is selected, for example, 1910 Bank Account.
Private withdrawal
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