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Experienced Member

recording an expense paid by another company by the same owner

Company A and Company B owned by the same Owners.

 

Company B owes Company A a loan for $2000.00 which is listed as Loan Payable to Company A on the Balance Sheet.

 

Company A has an invoice for cleaning expense that was paid by Company B credit card for $500.00.

Company A also has Loan Receivable Company B for $2000 .00

under Accounts receivable.

 

How do I record the expense in Company A and show $500.00 to decrease loan owed by Company B .

 

How do I record a payment by Company B credit card to a Vendor for Company A and also decrease the loan owed to Company A.

 

How do I record a payment made by Company B for Company A bill and to decrease loan owed to Company A for $500.

 

1 Comment
QuickBooks Team

Re: recording an expense paid by another company by the same owner

Hello,

 

That's a good question. I suggest you connect with your accountant since they will be better suited to provide you the most accurate answer for your business needs. With QuickBooks Online, you can give your accountant access to your account in a few simple steps. To do so, check this community article on how to manage an accountant user in QuickBooks Online.

 

If you don't have an accountant, you can find a certified ProAdvisor in your area through this link: https://quickbooks.intuit.com/ca/find-an-accountant/.

 

Let me know if you need help with anything else.