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ktate
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 December 10, 2018

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lyndaartesani
Level 6

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?

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
Level 6

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?

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
Level 15

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 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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