Writing inner company checks without charging to an expense account
I want to write an inner company check from one bank account to the other to reimburse payments made. How do I do this.
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chipoffblock
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04/16/12 8:22am PDT
You mean how to enter it in QB's? As a Bank Transfer, found under Banking menu.
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ljkbooks
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04/16/12 8:26am PDT
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Hi Carol148,
Is the other Bank Account another Business Bank Account? You would use Transfer Funds which is under Banking.
Is the other Bank Account a Personal Bank Account? We need to know the Entity of the Busines. Entity - Sole Proprietorship, S or C corporation? If Sole Proprietorship, this would be Owner Draw, an Equity Account. If you had set up a Loan From Shareholder, then you would use this Account.
Laura Kaniuk - LJK Bookkeeping Services
