drawing of stock

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Stock i have previously bought for the business I want to record as a drawing? How do I do this/ Where do I get the GST to come off? I have tried general journal, but that doesnt remove the GST in the tax summary??
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Fiona Papworth

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Posted 1 year ago

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Kevin Russell, Accredited Partner

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Fi too easy. Write a cheque to a card called Me. On the first line put the item. One the second line a negative to drawings. The balance of the cheque will be zero. When you study accounting for 10000 hours these things come to you naturally. Thanks for your question :)