Recording income / expenses pre-business bank account
Hi,
I opened a business bank account a few months into the year. All the transactions prior to that date show money going to / coming from an undeposited funds account. I was thinking of recategorizing all those as owner's draws / contributions. Or I could just make one big withdraw from undeposited funds the date my business account became active, clearing out that account.
Is there any advantage to one method over the other?
Thank you