Bank transfers in Qbo

Hi there, @Sanjeev_angal.

Let me guide you on how to transfer funds between companies.

Although this transaction seems like a transfer, because both accounts are not in the same company files, it has to be recorded as an expense or a check from one company, and deposited by the other one. 

To transfer funds to the other company:

1. Click the + New button.
2. Under Vendors, select either Check or Expense.
3. Select the bank account the funds are coming from.
4. Enter the Payee, Payment Date, and the Payment Method (optional).
5. Under Category details, in the Category column, select an Asset or an Equity account to reflect the funds going out of the business. It's a good idea to consult an accountant or tax authority to be sure to select the correct account.
6. Enter the amount to be transferred in the Amount column.
7. Select Save and close or Save and new.

Then, the transfer is recorded as a deposit coming into the company. Refer to this link and proceed to the Receive Transferred Funds section for the detailed steps: Move Money From One Company to Another.

Additionally, you may encounter situations that will require you to pay for business expenses with personal funds or vice versa. It's important not to mix them. Here's an article that will guide you how to handle them: About Mixing Business and Personal Funds.

Feel free to post again if you have further questions about this process. We'd be happy to assist. Have a wonderful day!