USA Started New Company- how to record loan from Co. A to Co.B

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Hi, I currently use quickbooks at wcrk. A few months back company A made a downpayment on a property that company B would be purchasing in the future. Conpany B was incorporated but the books were not set up yet. In Company A when I wrote the check I recorded it as a loan to Company B.
When I was told to put Company B on Quickbooks I just quickly started it up with the current balance in the account etc.
How do I record a loan from Company A?
Also we just went to closing so I will have to record the mortgage loan also.
Sorry I am only and office administrator and do not have experience with this, only the basics!
Advice would be so much appreciated!!
 
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Well, technically speaking, Company B received cash that was then used as a downpayment for the property.

So in Company B, you should first record Debit Cash / Credit Loan to Company A.

I am not sure if Company B already purchased the property but since you said you have to record the mortgage, I would say so.

So you should book Debit Property / Credit Cash and Credit Bank loan (mortgage).

Not sure you already have some interest expense already incurred, don't forget to book them too. As well as any loan/mortgage repayments that might have happened in the meantime.

Let me know if you needed any further clarifications.
 

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