Advertise here    

QuickBooks Forums      

Go Back   QuickBooks Forums > QuickBooks Software Support > QuickBooks Enterprise Edition Forum

Thread Tools Rate Thread Display Modes
Old 04-03-2017, 12:01 PM
drmdreams drmdreams is offline
Registered User
Join Date: Mar 2017
Posts: 1
Intercompany Receipts

Hi. First time posting. We receive customer payments for our partner company. We have set up the intercompany account, but should I be posting the receipts as JE's instead of receipts? If receipts, as deposits or transfers (QBE sets up the receipts as transfers automatically when posted to the check register). Thanks!
Reply With Quote
Old 04-03-2017, 05:34 PM
Lorin Browning Lorin Browning is offline
Registered User
Join Date: Apr 2004
Location: Landrum SC
Posts: 656
Perhaps a little more information may be useful.

Let's suppose your company is company A.
Let's suppose your "partner company" is company B.

Before an answer can be given to your questions, we need to know about what relationships exist between A and B. But that requires knowing about the status of A and B individually.

What is the legal status of A? Is it a corporation? Is it a sole proprietorship?

What is the legal status of B? (same questions as above)

Is there a common ownership for A and B?

Are A and B two companies with differing ownership which have entered into a legal agreement to do business as partnership C.

Are A and B both divisions of a parent company, likes Chevrolet and Cadillac are divisions of General Motors?

Do they share the same chart of accounts? That is not asking if their charts of accounts are identical. It is trying to determine if they both post to the same general ledger.
Lorin Browning, Ph. D.
Fellow -- National Tax Practice Institute
Reply With Quote
Old 04-04-2017, 05:31 AM
Rustler Rustler is offline
Registered User
Join Date: Feb 2008
Location: Texas - The Republic
Posts: 2,413
I'd add some questions to Lorin's

Are you depending on banking downloads to make your entries for you?

How do you know that a payment received belongs to the partner company?

This sounds almost like the second company is using your merchant processing account to accept CC payments - is that the case?
Reply With Quote

Bookmark and Share
intercompany receipts

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is On

Forum Jump

All times are GMT -5. The time now is 06:34 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
All contents copyright (c) by AccountingUsers Inc.