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-   -   Journal Entries? (https://www.askmehelpdesk.com/showthread.php?t=797922)

  • Jul 29, 2014, 06:55 AM
    msedgerly
    Journal Entries?
    Old company is receiving money for contracts that new company is fulfilling, then transferring the money to the new company. How do I record that in the general journal? It is basically flow through of money from old company to new company. (Same owner.)
  • Jul 29, 2014, 10:43 PM
    paraclete
    The would be an intercompany suspense account which would be credited with the funds on receipt then debited when the funds were transferred

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