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May 16, 2021
Question

How can I set up a sponsoring Company to show that it deposited money into my company bank account. This sponsoring company holds 100% shares in my company &100% profit

  • May 16, 2021
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1 reply

May 16, 2021

I'd be glad to help, info-makacm-com.

 

In QBO, you can record capital investments to track money going into your business. But before that, you'll have to set up first an equity account. Next, you can record the investment.

 

Here's how:

 

  1. Click + New and select Bank deposit.
  2. From the Account ▼ drop-down menu, select the bank account you're depositing the money into.
  3. Enter the Date you deposited the money.
  4. In the Add funds to this deposit section, enter the name of the investor in the Received from field.
  5. Select the appropriate equity account from the drop-down list in the Account field.
  6. Specify a Payment method.
  7. Enter the investment amount in the Amount field.
  8. Select Save and close.

Lastly, pay back the funds from the investment.

 

Also, I highly suggest consulting your accountant for an additional guide to ensure the accuracy of your books. 

 

You can reach out back to me if you have any other questions on managing your account. I'll be right here to help.