You can create a journal entry, then apply it to the open bills or vendor invoices to mark them as paid, Cat.
First, create an equity account that will represent the other company. Next, create a journal entry affecting the equity account and accounts payable. You can reach out to your accountant to identify the debit and credit in your journal entry.
Once all the steps provided above are completed, the final step is to apply the journal entry to the bill. This ensures the bill is marked as paid, accurately reflects the transaction in your accounts, and maintains proper reconciliation within your financial records.
Here’s how:
-
In the navigation above go to Vendors then Pay Bills.
-
Check the bill, then click Set Credits.
-
Select the journal entry that you created.
-
Click Done. Then, Click Pay Selected Bills.
I'm also adding this article to learn how to use the Intercompany Transactions feature to issue a bill or check between separate companies: Create transactions between different company files. Please note that this option is only available on QBDT Enterprise 2023-2024 Accountant, Diamond, and Platinum.
It seems like your question got cut off. Please feel free to repost it here in the same thread so I can assist you further.
If you have further questions, don't hesitate to reply down below.
