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.
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