How to Transfer Money Between Different Entities in QuickBooks | Part 1

Do you have multiple entities that you transfer money between?

This can sometimes be overwhelming to track inside QuickBooks.

We call these Intercompany transactions.

Here’s a workaround to make your life easier! 🤗

In this video, learn how to Transfer Money Between Different Entities in QuickBooks.

You can use "write checks" or "check register" for these transfers as well.

Steps to Transferring Money Between Entities:

➡️ Create a Bank Account

Go up to “Lists”
“Chart of Accounts”
Go down to “Account”
Click “New”
“Bank”
Click “Continue”
“Account Name”
Checkmark “Sub Account of” **If it’s a Sub Account
Click “Save & Close”

➡️ Transferring Funds

Go up to “Banking”
“Transfer Funds”
“Date”
“Transfer Funds From”
“Transfer Funds To”
“Transfer Amount”
“Memo”
Click “Save & Close”

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Timestamps:

0:00 - Intro
0:50 - Transfer Money Between Different Entities in QuickBooks
1:09 - Create a new bank account
1:38 - Create Subaccount
3:56 - Recap
4:41 - Transfer Funds
6:31 - Final Thoughts

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