Purchased non-controlling interest in another business

Launcher270 · ‎March 01, 2022

I purchased 5% of another business and need to understand how to post this transaction in QuickBooks. Can anyone provide advice please?

Rustler · ‎March 01, 2022

In the chart of accounts create a new asset account named for the company you purchased

then enter the purchase transaction and use that new asset account as the expense (reason) for the payment

Rustler · ‎March 01, 2022

In the chart of accounts create a new asset account named for the company you purchased

then enter the purchase transaction and use that new asset account as the expense (reason) for the payment

Launcher270 · ‎March 01, 2022

Rustler, you are a fantastic source on this site. Thank you so much

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