How to record an intercompany transfer in QuickBooks

I am running two companies in my QuickBooks. Let’s say Company A and Company B, I have made a payment recently for a service by using Company’s A credit card but that expenses was recorded in Company B because the services are for Company B. Now the credit card transactions should be entered in Company A but how do I record that payment in Company B? What account I have to debit for the Company B expense.

Thanks in advance

Add Comment
1 Answer(s)


As you have said that you are running two Companies that means you have registered for two QuickBooks Online subscriptions. Now for Company A, you have to generate a liability account called due from company B in Company A chart of accounts and pay the Company B expense by using that liability account This is your expense, Now for Company B – you have to enter a payment to Company A for the expenses paid and you can use the company expense account for the payment. It’s very simple

If you need further assistance you can reply to this message. I will be here to help you or you can also call our QuickBooks Customer Service Phone Number 1800-567-0425 and speak to our certified technicians.

Thank you for using QuickBooks! Have a great Day

Answered on April 26, 2019.
Add Comment

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.