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Re: Family living draw

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Your Drawing/Family Living accounts on your accrual trial balance are actually in the same category as your equity account. Thus a normal family living expense (such as groceries) will show up in this account as a negative. This is because this "expense" will actually reduce your equity in the farm. If you record personal income (such as off farm wages) through family living, these will show up as positive numbers, since they will increase your equity.

To correctly enter a family living purchase use the Purchase Option for Family Living. Then use the Check button to record the check.

I hope this helps!
R. Scott Nusbaum CPA
Farm Works Software

Family living draw

Celeste May 26, 1997 12:00AM

Re: Family living draw

R. Scott Nusbaum - Farm Works Software May 26, 1997 12:00AM

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