Hi. I have received a payment for Company B into Company A bank account. To reconcile, I need to show the deposit into Company A, but then transfer the money into Company B to allocate it to the correct invoice. What's the best way to do this. Thanks
Code the deposit in company A into an expense account Contra. Then company A will pay the amount to company B - code the payment into the Contra account also (aiming for matching deposit and payment with a balance of zero). In company B the amount can be recorded as a payment from the customer.