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Launcher270
Level 1

Purchased non-controlling interest in another business

I purchased 5% of another business and need to understand how to post this transaction in QuickBooks. Can anyone provide advice please?

Solved
Best answer March 01, 2022

Best Answers
Rustler
Level 15

Purchased non-controlling interest in another business

In the chart of accounts create a new asset account named for the company you purchased

then enter the purchase transaction and use that new asset account as the expense (reason) for the payment

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2 Comments 2
Rustler
Level 15

Purchased non-controlling interest in another business

In the chart of accounts create a new asset account named for the company you purchased

then enter the purchase transaction and use that new asset account as the expense (reason) for the payment

Launcher270
Level 1

Purchased non-controlling interest in another business

Rustler,  you are a fantastic source on this site. Thank you so much

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