Transferring funds is not available in the United Kingdom region. This means you can only use the transfer feature in your QuickBooks Online (QBO) account for recording purposes, muhammad. I'll share additional insight about this.
To achieve your goal, you need to use QuickBooks Payments. When you use QuickBooks Payments, it takes 3-5 business days for the funds to reflect and 30 minutes for instant deposit. However, QuickBooks Payments are not available in your region. In this case, you can only use the transfer feature to record the movement of the funds. To record, I'll show you how:
- Click the +New button from the left panel.
- In the Other column, choose Transfer.
- Choose what bank account the money is coming from in the Transfer Funds From.
- For the Transfer Funds To, decide what account the money is going to.
- Enter the amount to be transferred in the Transfer Amount field.
- Select the Date and have a description in the Memo field.
- If done, click Save and Close.
On the other hand, you can verify your QuickBooks accounts by reconciling them to ensure they correspond with your bank and credit card statements.
Once completed and still have queries about overseeing your finances in QBO, feel free to reach out. I'll be happy to assist you in any way I can. Stay safe!