Hey folks,

I need help with something which is bugging me. I have an imaginary corporation created as I am playing with Quickbooks these days. I am stuck, shareholder distribution transaction. Here is what I did:

1. I created "Shareholder Distribution" account under Equity group of accounts. Question: This account would be Other Liabilities or Other Current Liabilities?

2. I created a check to myself using Shareholder Distribution account. Then I created General Journal Entry crediting Shareholder Distribution and debiting Retained Earnings, but received message from quickbooks that I generally should not use Retaining Earnings account for transactions myself. Message said that this is some special type of account quickbooks maintains internally.

Am I on the wrong path with all this?

Thanks!