Reach is the only Accounting Software which is customised to suit 18 different business end to end.
When the owner makes payment to himself, it needs to be recorded in the Accounting Software.
The question to how it should be recorded depends on the type of entity you are dealing with.
If the organisation is a Proprietorship entity, The payments are recorded as "Drawings".
If the organisation is a Partnership, The payments are recorded as Partners Remuneration or Interest on Capital and adjusted to the Partners Capital Account.
If the organisation is a Limited Company, The payments are recorded as "Directors Remuneration"
Now, Let me show you how these payments are recorded in Moiboo Software.
Go to payment under Expense tab
Click Add Payment
Select the direct payment in payment type.
Select date and payment mode
Now select the "Directors Remuneration ledger in account and give the salary amount.
Add a notes for your reference.
Now Click Save. Payment added successfully.