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snugsss2
New Member

I'm starting an online pet store. As sole proprietor is it possible to transfer funds from my business account to my personal account?

 
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Critter
Level 15

I'm starting an online pet store. As sole proprietor is it possible to transfer funds from my business account to my personal account?

Of course ... draws are how you get paid as a sole prop.  

View solution in original post

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Critter
Level 15

I'm starting an online pet store. As sole proprietor is it possible to transfer funds from my business account to my personal account?

 
Critter
Level 15

I'm starting an online pet store. As sole proprietor is it possible to transfer funds from my business account to my personal account?

Of course ... draws are how you get paid as a sole prop.  

View solution in original post

Carl
Level 15

I'm starting an online pet store. As sole proprietor is it possible to transfer funds from my business account to my personal account?

Removal of funds from the business account by the business owner are referred to as Owner's Draws. What you do with the money after withdrawal doesn't matter.

 

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