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darren-lobegeige
Level 1

How do i enter a transfer from one account to another

 
1 Comment 1
SarahannC
Moderator

How do i enter a transfer from one account to another

Hi there, darren-lobegeige.

 

Let me share some information about recording a funds transfer in QuickBooks Online.

 

If the two accounts are visible in your Chart of Accounts (COA), we can directly use the transfer feature. It's the easiest way to move funds and be recognized in the bank register as soon as possible. Let me show you how to do it. Here's how:

 

  1. Go to the +New button.
  2. Select Transfer under Other.
  3. Choose the bank account that the funds are coming out of by clicking the Transfer Funds From drop-down arrow.
  4. Choose the bank account where funds are being deposited into by clicking the transfer Funds To drop-down arrow.
  5. Enter the transfer amount in the Transfer Amount field.
  6. Modify the date if necessary, and enter others if needed.
  7. Then, Save and Close.

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Afterward, we can verify the transferred fund by opening the account where we deposited it. Let's go to Chart Account and select the appropriate account. Also, I'd like to share with you a tip on how to view each type of transaction there. Here are things to follow:

 

  1. Click the Funnel icon.
  2. Select Transfer in the Transaction Type field.
  3. Then, Apply.

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Aside from using this feature, we can create a transfer using cheque, imported bank transaction, and journal entry. For more tips and details about them, we can use this article as a reference: Transfer funds between bank accounts. The complete steps of the other options in transferring the funds can be found there. 

 

In case you mean transferring the fund between companies, you can check out this article: Learn how to move money from one company to another.

 

Let me know if you still need a hand with the process. I'll be here to back you and help you as soon as possible. Thanks for dropping by. Take care!