Withdrawn course on grad school app

[Clinpsyc01]

My university requires students to take two honours seminar courses while we do our thesis to keep us on track. I signed up for the first course, but I withdrew from it because I decided it would be better to take it next semester and finish my thesis over the summer. I now have a W on my transcript. I'm still taking a full course load and it doesn't affect my GPA, but will it look bad on grad school applications? It's my only W. 

Basically, I withdrew from the course because I realized that my honours thesis needed more time. I'm pretty confident that my project would've been a piece of crap if I had rushed everything just to get it done now. I feel like I made the right decision because I really like my project and now I'll be able to do it justice, but will this affect my application? 

[fuzzylogician]

One W will not affect your application. It would only be problematic if it were part of a pattern or if it were situated among many low grades, and that is simply not the case here.