USA How to record compensation to yourself in a Sole Proprietorship?

[itzzzchloe]

Can any one answer this please.

When you pay yourself as a sole proprietor, you simply withdraw money from your business checking account. You don't have to issue yourself a paycheck and make payroll tax deductions.

How do I record this in the book?

Debit: ?? (not salaries, not dividends)
Credit: Cash/Bank

Or how do I record this on Quickbooks?

 

[Marshall]

I generally have an account called something like "Distributions to Owner" or "Withdrawals by Owner". Otherwise, you can just charge it directly against "Owner's Equity" or whatever account you set up when the owner invested cash or other property in the in the business.