If there are two owners of a company and they get paid via Partner Draws with A/P checks, how do you set them up in Core?
Both the owners/partners are considered as employees and must have their profiles set up in the Employees screen. Here is how you can handle the partner draws in Core:
- Open the Checks screen from the main menu on the left, Accounting > Checks.
- On the Checks screen, click Create New.
- Select the Bank Account from the drop-down.
- Click the Payee drop-down and select your partner's name (Employee ID). You'll see that your partner's name and address information is automatically filled on the check. If this is not the case, make sure you update the address in the Employees screen or click Edit Address here to update your partner's address.
- On the Accounts sub-tab below, select an equity account for the payments.
- Enter the check amount in the Amount column.
- Enter any additional information in the remaining columns, as needed.
- You can check 'To be Printed' to print the check later or just save it if you want to print the check now.