Journal for bank debit to second business

Forum|Forum|4 years ago
August 2, 2021
1 reply
3 views

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

Ashleigh1

Level 14

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.

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.

payment after leaving

Level 10

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

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