QB Issue Resolution:

Honestly, there is so much data going so many different directions, using too many tasks. Let’s review:

When you pay something on behalf of someone else, that is Your Asset – loaned to them.

They enter the expense and that they now Owe you = their liability. They can simply Write a check to you and list what they are paying you for, such as supplies or web hosting.

All of this inter-company stuff should really go away. Having a common owner doesn’t mean Commingling is a good idea. The IRS and CPAs all will give you guidance on how this is affecting both entities under “Common control.” A Lawyer would also give you great guidance on the follies of this mess.

There is no posting to AP manually. Nothing here is Unpaid.

Resolution for Issue 'Paying an invoice out of one company that is for a different company owned by the same owner, What entry is needed? I manage 5 LLC’s and this happens often. I am paying a bill out of Company A but the bill is for Company B. This money will eventually be paid back. Do I need to record a journal entry in both companies? One showing a loan to and one loan from? I don’t know what other account to use to balance the journal entry.' available: Yes (Solved).
Source: Intuit Community forum.

Paying an invoice out of one company that is for a different company owned by the same owner, What entry is needed? I manage 5 LLC’s and this happens often. I am paying a bill out of Company A but the bill is for Company B. This money will eventually be paid back. Do I need to record a journal entry in both companies? One showing a loan to and one loan from? I don’t know what other account to use to balance the journal entry.: 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.

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