QB Issue Resolution:
You are correct a transfer from bank to bank is not an expense and is shown on the balance sheet, in the same QB company
From one company to another, it depends. (you can NOT use transfer from one company to another regardless, transfer only works within the same company)
If you are a sole proprietor or partnership for taxes, then the money you take out of company 1 is an equity draw, and an equity investment in company 2 – IF, if company 2 is also a partnership or sole proprietor
Resolution for Issue 'How should I Transfer Funds between bank accounts that are in different QuickBooks sessions? I assume this should not appear on the P&L, just the Balance Sheet?' available: Yes (Solved).
Source: Intuit Community forum.
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