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Level 1

If I am transferring funds from bank account A to bank account B. I want the funds transferred to be recorded as a capital contribution. How do I record this entry?

If I am transferring funds from bank account A to bank account B. I am closing bank account A. I want the funds transferred to be recorded as a capital contribution. How do I record this entry? I have the transfer between accounts and then the recording of the capital contribution? 

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Best answer 12-10-2018

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Level 6

The transfer of funds is just that.  Transfer from bank A...

The transfer of funds is just that.  Transfer from bank A to bank B.  You would record the capital contribution when the initial funds were entered into qb as a bank deposit.

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Level 6

The transfer of funds is just that.  Transfer from bank A...

The transfer of funds is just that.  Transfer from bank A to bank B.  You would record the capital contribution when the initial funds were entered into qb as a bank deposit.

View solution in original post

Level 15

If both bank accounts already belong to this business, th...

If both bank accounts already belong to this business, there is no New Capital here; you basically moved your own money from one pocket to the other, but it was already yours.

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