I have transfered money from one ltd company to another. This is in the form of a loan. How do I tag this in both of the ltd company Quickfile accounts?
Hello @jlee6588
I fount the below threads in the forum which may help.
OK, then in each company you should have a balance sheet account named for the other company e.g. in Quickfile you should have a balance sheet account named “Company 2 inter-company account”, and in Sage you should have a balance sheet account named “Company 1 inter-company account”. The important thing to check every so often is that the balances match (i.e. are for the same amount (one will be a credit balance and the other will be a debit balance).
This is assuming that you own (are 100% sh…
Hello Support,
I have two Quickfile instances - one for my limited company and the other for my sole trader account. I want to transfer funds from my sole trader account to my limited company, so I created a loan account on the sole trader instance and added the funds received in the limited company to the director’s loan account. However, I’m not sure if this is the correct process. Should I create another loan account on the limited company side as well?
Moreover, I want to ensure that the w…
system
20 September 2024 08:56
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