Question

Journal for bank debit to second business

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We have just opened a new company; but an invoice for the new company was paid into our old company's bank account via card payment. What journal do I use to transfer the money from the old company's bank account to the new company? Thank you.

QuickBooks Online

A

Ashleigh1

Hello EmmaY,

Welcome to the Community page,

So yes you can do a journal entry, if you are not sure on how to enter this journal entry into your Quickbooks account then you will need to speak to a trained and qualified accountant who will be able to advise and guide you on how to do this as we are not trained accountants just technical support.

E

EmmaYAuthor

Thank you for your reply. I do know how to do a journal but was wondering if I could have some help with what accounts to use/set up. Many thanks.

P

payment after leaving

Hi EmmaY Has the money now been physically been transferred from the old account into the correct account?

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