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QuickBooks Team

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Hello there, @Philipt.


You can create cleaning accounts that will serve as a Factoring Company in QuickBooks.

Here's how:

  1. From the left menu, click Accounting.
  2.  Select Chart of Accounts.
  3. On the Chart of Accounts screen, click the New tab.
  4. Choose Bank for the Account Type. You may choose any detail type you want for your clearing account.
  5. Type in the Name for the clearing account.
  6. Make sure you do not type in any amount on the balance before.
  7. Click Save and Close.

Once, done, you can now move money from one account to another account using the clearing account.


Also, if you need some references in the future, you can always access our site: Help articles for QuickBooks Online.


Please let me know in the comment section below if you have any other questions. It'll be always my pleasure to lend a hand.