QB Issue Resolution:
Checks written from the “wrong account” would be posted as a Loan, such as Loaned to Company A (other Asset). Edit those checks, even Reconciled is fine, and fix that. Now you see the total owed back.
In Company A, the account with the tenants, you enter this as “paid by” other Liability. For instance, the “check to the tenant” or the refund or whatever you create, on the Expenses tab, list that Other Liability account and put the total as a negative. Hit ReCalc. This is a 0 check and the amount you SHOULD have incurred is captured but the Other Liability account increases to show this was paid by the other company and Company A owes it back.
Then, company A writes a check to the other company, clearing that Other Liability balance.
Resolution for Issue 'I need to journal entry expenses from one company to another. How do I do this?' available: Yes (Solved).
Source: Intuit Community forum.
I need to journal entry expenses from one company to another. How do I do this?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Company
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