I'm new to bookkeeping and the company I work uses QB desktop. The company has a checking account and Merrill Lynch mutual funds. I transferred $50k from the checking to the Merrill Lynch acct by cutting a check which shows up as an expense on the Profit & Loss Statement. How do I correct this? Also, the prior bookkeeper was making adjusting entries every month based on the Merrill Lynch statement to reflect the increase/decrease in value on the Balance Sheet and Income/Expense on the Profit & Loss.
