I have 2 separate companies in QuickBooks and need to transfer money from one to the other (description below). What is the proper procedure to move funds from one account over to the other?
I tried going the deposit route on the receiving company end but it wants me to record income received from customers first. I'm not sure if there is a way to show a direct deposit of funds without it being recorded as a sale.
Description: Real estate investment fund. Parent LLC (fund account) holds the investment dollars. Separate LLC (investment account) will own the properties (legal purposes). When we buy a property, we move money from the fund account to the investment account to make the purchase.
