I own 2 companies and company A made a profit which was then a dividend payment to company B. How do I record that to not pay double tax on it?Thanks

Hello there, @paulina-guglhor-.

I'd be glad to help you record those dividend payments in QuickBooks Online.

Since you've already paid tax on it, we can use the manual method of recording this. We ca do the journal entry method to document this transaction. I'll guide you on how: 

1. Click + New and select Journal entry.
2. On the first line, select an account from the Account field. It depends if you need to debit or credit the account. Enter the amount in the correct column.
3. On the following line, select the other account you're moving money to or from. It depends if you entered a debit or credit on the first line. Enter the same amount in the opposite column.
4. Review the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. It means the accounts are in balance.
5. Enter information in the memo, so you know why you made the journal entry.
6. Hit Save and new or Save and close.

However, this process can be tricky. It requires assistance from your accountant to ensure that the journals will be posted accurately to your accounts. Also, they can give you the best process for handling dividend payments, as there are different ways to record them. In case you're not affiliated with one, you can utilize our Find an Accountant tool to look for one in your area.

If you need further help recording journal entries, I'll add this article for your reference: Create journal entries in QuickBooks Online.

Moreover, this guide can aid you in organizing your transactions for future tasks: Categorise and match online bank transactions in QuickBooks Online.

Feel free to visit again in the Community if you have more queries about QBO-related tasks. I'm determined to help you succeed. Keep safe always.