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Level 1

How do I record a bank account expense that is for purchase of shares in another company?

My company has purchased shares in another company.  The payment made for the shares appears as a bank account transaction.  How do I record this payment in Quickbooks please?

I have an Investments account in my Chart of Accounts which is of type Tangible Assets.  Is this where I should put it?  Should I create a journal entry as I believe it shouldn't appear on my P&L as an 'expense'.

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Best answer 10-19-2018

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Level 15

How do I record a bank account expense that is for purchase of shares in another company?

Yes you can create a new asset account for the investment as a tangible asset

True it is not an expense

No you do not use a journal entry, enter the check, or type of payment, and use the new asset account as the "expense" for the payment - asset accounts do not show on the P&L

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Highlighted
Level 15

How do I record a bank account expense that is for purchase of shares in another company?

Yes you can create a new asset account for the investment as a tangible asset

True it is not an expense

No you do not use a journal entry, enter the check, or type of payment, and use the new asset account as the "expense" for the payment - asset accounts do not show on the P&L

View solution in original post

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