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?

ktate · ‎December 10, 2018

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?

lyndaartesani · ‎December 10, 2018

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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lyndaartesani · ‎December 10, 2018

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

qbteachmt · ‎December 10, 2018

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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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?