How to set a due to/from? We have three companies and I recieve one bill for all three companies every month. For Ex: Recall send us one bill and they charge services for all three companies. Please advise Thanks!
Create new accounts in the chart of accounts; due to should be a current liability account, due from a current asset account. When one company pays the full bill, expense their portion and record the rest to the the due from accounts for the other companies. In the companies that didn't pay the bill, create a journal entry debiting expense and crediting the due to account. You will need to vigilent to record the transactions in all threee companies to the due to's match the due froms.
Please let me know if this helps.
