a journal entry is not necessary. write a check from company 1 to company 2. use “Loan to Company2” as the account and make it an Asset type account.
in Company 2, enter a new deposit of that check and make it a Liability type account called “Loan from Company1.”
Resolution for 'Company 1 issue: 'Journal Entries – Company 1 to Company 2' available: Yes.
The Company 1 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 Company 1 issue yourself by looking for a resolution described in the article. If it is a complex Company 1 issue or you are unable to solve the issue, you may contact us by clicking here or by using other Company 1 support options.
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