Withdraw the cash directly from the company for personal use

Of course the best thing is to talk an Accountant that knows your Chart of Accounts. He/She can advise you best.
Having said that the first thing to find out is in which account the owner contributed his money in your company's COA.  Then with Bank Payment you can Credit the Bank (1061 for example) and Debit the Contributing account i.e Common Shares (3350) or alternatively create a new account with the name of the owner i,e John Common Shares (3351) and Debit that account.

Thank you all for your contributions.

In one of the websites I found that As long as the company has a single owner and the withdrawn amount will reduce the capital amount then I can do the following :

Debit - Cash A/c
Credit - Capital A/c

But will this transaction be reflected on the bank balance by deducting the withdrawn amount?

In all cases, the withdrawal of the amount should not appear in the profit and loss account as a loss.

Thank you apmuthu

In fact, I don't have an account called Director Current A/C.

Shall I add this account? and if yes , under which group of the following it should be:

Current Assets   
Fixed Assets           
Inventory Assets       
Capital Assets       
Current Liabilities       
Long Term Liabilities       
Share Capital       
Retained Earnings       
Sales Revenue       
Other Revenue       
Payroll Expenses       
General & Administrative expenses       
Cost of Goods Sold

Please note that the withdrawal money doesn't consider as a loan as won't come back to the company, in this scenario is the transaction you suggested will be the right one?

So let's assume the following:
1. The company is owned by only one person.
2 . This amount is part of the company's profits to be paid to its owners, as it is he who has financed the company's capital from the beginning.

  How is this amount documented in this case?

It's cash withdrawn from the business bank account?