I have a client who owns two companies - this is going to be more a QB question on how to do something really.
He needs a regular transaction cross-charged from Co 1 to Co 2. I have created a supplier account for Co 1 in Co 2 which is fine. However I was going to create a customer account in Co 1 but the charge is an interest expense and needs to be recorded as such which I can't do in the customer account.
Is it best for me to create a supplier a/c for Co 2 in Co 1 and then post the transaction as a credit?
So instead of setting the companies as suppliers or customers, set up a nominal account in each and then do journals to show the cross charge analysis almost like you would with a bank transfer journal?? (probably stating the obvious but just need to get it straight in my head) That makes more sense to me so I will do that :D
