Professional Services
Partner Monthly Drawings (Advance Against Profit)
A partner withdraws a monthly drawing against their expected annual profit share.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Partner Drawings (Contra-Capital) | Equity (−) | 10,000.00 | - |
| Cash / Bank | Asset (−) | - | 10,000.00 |
💡 Accountant's Note
Monthly drawings are advances against profit — not salaries. At year-end, total drawings are offset against the partner's profit share. If drawings exceed profit, the partner owes the difference back to the firm. Drawings reduce the partner's capital account.
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