Yo1
Level 2

Reports and accounting

When the new owner took over, a new QB company file was started so the use of the program and the beginning of the financing were at the same time, in fact they were on the exact same date.

No money actually changed hands but when you do a journal entry it makes you enter what account the money came from and what account it is going into. It is going to the long term liability account created to track the payments but what do I put in the where it came from account, because again no money changed hands.