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Connect with and learn from others in the QuickBooks Community.
Join nowHi there, Dave407.
You'll have to record a Bank Deposit in QuickBooks. I've got steps on how you can do it:
Once done, you can pay the bill. Here's how:
You can learn additional information about entering and paying bills in this article: Enter and pay bills.
I'm also adding this article that will help you in reconciling your account.
Please let me know if you need more help with recording transactions in QBO. I'll be around to help.
To answer your question directly
When you enter the bill, you need to separate the things that go to the other company as a lump sum and post it to an expense account, misc expense or something
Then pay the bill
when you get paid back for that portion, deposit the payment and use Other Income as the source account for the deposit.
On the P&L misc expense and other income will wash with no effect on your P&L bottom line.
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