Company B bill amount deposited in Company A account

Hello @EdnaBen:

I am going to "assume" that the same people own Company A and Company B for this answer. If that is not correct, please post back.

1. Open Company A in QBO.  Go to + accounting>chart of accounts>new
2. Create an account called "exchange" and make it an equity account.  Deposit that check by going to +bank deposit in Company A.  Post it to the exchange account.
3. Write a check from Company A to Company B.  Post that check to that same equity acct. called "exchange".  This will zero out that exchange account on company A.
4. Open Company B in QBO. Go to + Bank deposit.  Deposit that check to Company B just like it came directly from that customer.  +Receive payment.  Write good notes as to why this happened and why the check came from Company A to post to the customer account.

We hope that helps you!  This would actually make a great video answer someday!  If you have further questions let us know.

Lynda Artesani (@lynda) & @Matthew Fulton (@ParkwayInc) 

QB Community Live (FB Group)

Hi @lynda,

Basically it's One company with two GST numbers maintained as two companies in QB. For the invoice rasied from GST1 (Company A) account we received payment in the GST2 (Company B) bank account. Can you please help me with this scenario. Thanks a lot

Do they have separate qb files?

@lynda Sorry i am unable to understand what you meant by QB file. Can you please explain. Sorry for the trrouble. If its the company details, everything is same except for the GST number and Bank accounts. Thanks a lot for your replies. Also I use QB online.