Thread: "Due to, Due From" accounts

"Due To , Due From" accounts. A business owner with multible businesses, transfering money back and forth between each. Can someone teach me a little about these accounts. What should i know? I use QuickBooks.

Due to means the person you are paying and due from is the person paying for it.... I believe !

Originally Posted by season0816

"Due To , Due From" accounts. A business owner with multible businesses, transfering money back and forth between each. Can someone teach me a little about these accounts. What should i know? I use QuickBooks.

are these transactions occuring because one company is performing a service and charging the other company? Basically you just book them as they occur. If one company invoices another for a service you paid it, you would credit cash and debit due to account. The reason for the due to/from accounts are to separatly track these amounts as they have to be shown seperatly on the financial statments.