Question about Intuit QuickBooks® Premier Contractor Edition 2006 Full Version for PC
In my quickbooks 2006 contractor edition I have 4 companies set up. I want to know if there is a way to transfer money from the bank account in one company to the bank account in another company.
Hi. You will not be able to record a transfer directly from one company to another. The "transfer funds" feature in the banking menu works only for accounts in the open company. You probably know that QB's only allows you to have one company file open at one time. You do not mention the nature of the relationships between the companies. If the funds you are transferring are for "intercompany" transactions, it would be more accurate to create invoices/bills, etc, and handle the transfer like any other non-related business transaction. However, if you are the owner and are shifting your liquid funds between these entities, you should be recording these against an officer loan payable (or whatever is applicable to the type of business entity that you have).
Posted on Jun 06, 2009
Hi, I may be able to assist you here. If I remember my accounting procedures
Your quickbooks has 4 companies set up, you want to know if you can take money from one companies account and put it inmto another company account? Personally I have not USED Quickbooks but I have used other accounting software.. You will want to post a debit from account 1 to company 2 then for company 2 you will want to post a receipt from companyt 1 as a deposit into company 2 account.. Normally a range of numbers such as 1XXX may be used as receipts 2XXX may be used as debits..etc etc .. 4XXX accounts payable 5XXX accounts receivable as long as both accounts are kept in balance you shoiuldn't have too much difficulty I presume that your quickbooks uses the online banking for both companies?
I hope this helps
Posted on May 22, 2009
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Posted on Jan 02, 2017
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