The balance in my business account on Dec 31st showed ZERO on my papers. The balance was of course not zero i at the bank, because some stuff wasn't yet deposited or cleared or whatnot, but when I did my paperwork & saw that I had X amount of money left over, I just took a "distribution" for that exact amount & stated fresh for 2005.
I do this every year & my accountant loves me for it
As far as overdrawing, jsut don't do it. I take distributions once or twice a month & base it on what's int he account after I've paid my bills & whatnot. So if I have Y amount in there, I'll take out Y - Salary (so there's money in there on Pay Day) and nothing more.