Contact QuickBooks Support for Information on How to Transfer Funds between Companies

Imagining of two sided transaction and that too with accounting software? If you are running with one or more business, and you want to transfer funds from one to another business; this clearly means you are transferring from one business and receiving onto other business.

Instead of increasing and decreasing funds it is rather increasing a liability account with an asset.

How to transfer funds?

Before moving ahead, you must know about transferring funds to other company:

• Click on to the Create icon.
• In Suppliers tab, choose either Check or Expense.
• Choose the bank account from where the funds are coming
• Type the Payee, Payment Date, and the Payment Method 
• In Category tab, choose an Asset or an Equity account to replicate the funds going out of the business.
• Type the amount that is to be transferred in the Amount column.
• Click on Save and close or Save and new.

Wherever transferred is written signifies the funds going out from the business.

How to Receive transferred funds

You must know about receive funds transferred from the other company:

• Click on to the Create icon.

• In Other tab, choose Bank Deposit.
• Choose the bank account to which funds are going.
• Type the Date.
• In the Add funds to deposit section, mention from who the funds were received Received From.
• Choose Equity or a Liability account to replicate the funds coming into the business.
• Type the amount received in the Amount column.
• Choose Save and close or Save and new.

We really hope that this post managed to to transfer Funds between companies. Our technical team will definitely find out more such queries you come crossways. For further support feel free to contact our QuickBooks Support Number as our team of expert leaders is available 24*7 or you can also directly drop us a mail at support@quickbooksupport.net.