How to book the purchase of shares (common stocks) of another private C-corp by our C-corp in QBO?

Hi there,

Greetings. Our private C-Corp has purchased stock from another private C-Corp (hence not on the stock exchange). We bought 900 shares at a par value of $0.01. The purchase ($9.00) was sent directly to the other C-Corp via bank transfer. Our bank account is connected to QBO. The transfer was free (no transfer costs). We will hold these shares for a longer period of time (several years). However, under QBO we only have the account type: "Other Current Assets"; Detail Type: "Investments - Other", but could not find a "Long Term Assets" category. For liabilities, on the other hand, there is the "Long Term Liabilities" category.

Also, in the description of the Detail Type: "Investments - Other", we noted that this type is used to track the value of investments in publicly traded stocks, which is also not the case for us. Which account type and detail type are used for such investments in QBO and how do we book the purchase correctly? As a vendor, we would choose the name of the C-Corp in which we invested and transferred the amount. Is it correct?

If we have to pay a bank fee for another investment in the future, how do we properly account for those bank fees?

Thanks in advance!