Reporting distributions

I can guide you on recording a money transfer between two accounts, sw1222. You can follow the steps I'll share below.

We can utilize the Transfer feature of QuickBooks Online to do this. This single procedure will record the outflow from Account A and the inflow to Account B. I'll show you how to do this.

1. Head to + New, then select Transfer.
2. In the Transfer Funds From the dropdown, select the bank account from which the money is originating.
3. In the Transfer Funds To dropdown, choose from the list where you want the money to go.
4. Write the amount being transferred in the Transfer Amount field.
5. Please update the Date field.
6. If you want to add descriptions, you can utilize the Memo section.
7. Click Save and close. 
8. Please confirm by selecting Yes if you have double-checked the date.

Check out this article for reference: Transfer funds between accounts.

Additionally, I've added these helpful articles you can follow if you want to make transfers in the future:

• Transfer funds between companies in QuickBooks Online
• Transfer funds from a bank to a credit card account

I can always assist you if you need more help with moving money in QBO. Just hit the reply button or post in this forum if you have one. I'll be sure to get into it as soon as possible.

@sw1222 

If Account B is a company account, then it's technically not a distribution because the money has not been distributed to the shareholder.  Account B is generally the shareholder's personal account.  Maybe I'm not fully understanding your question.  If you can provide more information, that would be helpful.

Thank you for your response.  To clarify, each account is a different business which my boss owns.  He asked me to transfer some of the profit he made in business/account A to business/account B.

@sw1222 

Thanks for clarifying, that makes more sense.  Classify the funds received in Co. B to their owner equity account (Owner's Capital/Contribution if sole proprietorship, Shareholder Contribution if S-corp).