;) Hello! I have an owner who wants to take money out of the company not as a loan and not as an employee. (W-2 - We use an employee leasing company.) I know if I write him a check should the entry be as follows:

DR: Owner's Draw - Equity Account
CR: Cash

Should their be any follow-up entries for year-end or tax purposes?

HELP!!! and THANK-YOU!!;)

I take it this is not a corporation but a sole proprietorship?

In which case, your JE is fine.