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NU-LTGx
October 4, 2018
Solved

Chart of Accounts

  • October 4, 2018
  • 3 replies
  • 0 views

Hi! Good morning, Can anyone help me out here? The owner transfers money from company checking account into company money market account, how do I categorize this in QB? What do I label the chart of account? Just want to make sure I am labeling everything correctly.

 

Thank you in advance!

Best answer by AlcaeusF

Welcome to the QuickBooks Community, NU-LTGx.

 

I'm here to help record a funds transfer from one account to another in QuickBooks Online.

 

Please make sure both accounts show in your Chart of Accounts to record the transfer. There are four ways to track a bank transfer between two accounts.

 

Here's the list:

  • Transfer
  • Check
  • Imported Bank Transaction
  • Journal Entry

 

The detailed steps are outlined in the article below depending on the method you use:

 

Handle a bank transfer

 

The steps above will help you with what you need. If you have any questions concerning the bank transfer, please let me know.

3 replies

AlcaeusF
AlcaeusFAnswer
October 4, 2018

Welcome to the QuickBooks Community, NU-LTGx.

 

I'm here to help record a funds transfer from one account to another in QuickBooks Online.

 

Please make sure both accounts show in your Chart of Accounts to record the transfer. There are four ways to track a bank transfer between two accounts.

 

Here's the list:

  • Transfer
  • Check
  • Imported Bank Transaction
  • Journal Entry

 

The detailed steps are outlined in the article below depending on the method you use:

 

Handle a bank transfer

 

The steps above will help you with what you need. If you have any questions concerning the bank transfer, please let me know.

    N
    NU-LTGxAuthor
    October 4, 2018

    Thank you so much, perfect!

    A
    Anonymous
    October 4, 2018

    @NU-LTGx, is this a regular things your client intends on doing? There might be a good process to put in place to make it most efficient. 

    S
    sjvillagran55
    September 1, 2023

    The owner transfers money from company checking account into company money market account, how do I categorize these transactions in QB? What do I label the chart of account? I will be writing a check and depositing but not sure what account/category to use in Quickbooks.

    L
    leah nuestro
    May 31, 2024

    A company issued a cashier's check for bidding on a prospective investment.  What account should I debit, since it is not yet an investment? Should I debit Cashier's Check on Hand under Cash/Current Account?  If bidding is successful, the amount will eventually go to Investments account. And if not, the Cashier's Check will be deposited back to the bank account where it was drawn from.

     

    Thanks

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