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I purchased 5% of another business and need to understand how to post this transaction in QuickBooks. Can anyone provide advice please?
Solved! Go to Solution.
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
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
Rustler, you are a fantastic source on this site. Thank you so much
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