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How to record an Owner’s Draw

Learn how to record an Owner’s Draw in your bookkeeping records for your handmade or creative business. An Owner’s Draw is: money you take out of your business to pay or repay yourself NOT a business expense, so it should not show up on your Profit & Loss Report part of your businesses Equity, so …

How to record an Owner Contribution

Learn how to record an Owner Contribution in your bookkeeping records for your handmade or creative business. An Owner Contribution is: money that you take out of your own pocket or the family finances/budget to fund your handmade or creative business NOT Income for your business tracked on the Balance Sheet in the Equity Section …

Let's talk about Income for your handmade or creative business

Let’s talk about Income

Basically, you have two types of income: Income from the goods and services that you sell directly to others, and Money you receive from 3rd parties (ad revenue, commissions, etc.) It’s really important that you track each of these types of revenue separately. Let’s talk about income for your handmade or creative business. I’m betting …