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jessica-sturm
jessica-sturm
January 3, 2020
Solved

Bank Transfer between Accounts

  • January 3, 2020
  • 35 replies
  • 364 views

Hello All. 

I am new to using Quickbooks online and have starting Reconciling my books. I have a total of 3 accounts that i use, checking, savings, and a paypal account. I also will transfer payments to a personal account for one of my contractors and  I transfer between all 3.  I am a little confused on how to properly account for the transfers. For example I transfer $300 from savings to the checking when i am adding from my register am i add, match, or transfer? 

 

It seems when i Transfer it throws off the banking and savings reconcile. I know this is probably a stupid question but i want to make sure i am doing everything correctly.

 

i hope i explained myself clearly. I hope you all can help. Thank You!

Best answer by MaryLurleenM

You can use the transfer funds feature, jessica-sturm.

 

This is the easiest method to transfer money between accounts. Here's how:

  1. Click the Plus button.
  2. Under Other, select Transfer.
  3. From the Transfer Funds From drop down list, select the bank account that the funds are coming out of.
  4. From the Transfer Funds To drop down list, select the bank account the funds are being deposited into.
  5. In the Transfer Amount field, enter the amount being transferred.
  6. Edit the Date.
  7. Select Save and close or Save and new.

You can also create a transfer between two accounts using any of the following:

  • Check
  • Imported Bank Transaction
  • Journal Entry

If you need anything else, don't hesitate to leave a reply.

35 replies

MaryLurleenM
MaryLurleenMAnswer
Level 6
January 3, 2020

You can use the transfer funds feature, jessica-sturm.

 

This is the easiest method to transfer money between accounts. Here's how:

  1. Click the Plus button.
  2. Under Other, select Transfer.
  3. From the Transfer Funds From drop down list, select the bank account that the funds are coming out of.
  4. From the Transfer Funds To drop down list, select the bank account the funds are being deposited into.
  5. In the Transfer Amount field, enter the amount being transferred.
  6. Edit the Date.
  7. Select Save and close or Save and new.

You can also create a transfer between two accounts using any of the following:

  • Check
  • Imported Bank Transaction
  • Journal Entry

If you need anything else, don't hesitate to leave a reply.

    M
    mking22
    April 29, 2021

    I have a unique problem.  I have a transfer that left one account on 10/31, but didn't post on the other account until 11/2.  Is there a way to record a transfer with two different dates so that I am able to reconcile each account for the different months?  Any recommendations on how to solve this issue?

      JenoP
      JenoPQuickBooks Team
      QuickBooks Team
      April 29, 2021

      Hi there, mking22.

       

      You can only use one date when recording a bank transfer in QuickBooks Desktop. You might need to create a journal entry in the other account that represents the transfer. Then, use the journal entry when reconciling the account. 

       

      Here's how to create a journal entry:

       

      1. Go to the Company menu and click Make General Journal Entries.
      2. Fill out the fields to create your journal entry. You may also need to reach out to your accountant to make sure you're using the right accounts.
      3. Click Save or Save & Close.

       

      Let me also share these articles for more info and additional guidance as well:

       

       

      Don't hesitate to reach out to us again if you need anything else. We're always here to help. 

      A
      Anthony1168
      November 17, 2021

      Hi please I need help to make a transfer I tried to added money to my quick books account please help 

      A
      Anthony1168
      November 17, 2021

      Help 

      C
      Charies_M
      Level 9
      November 18, 2021

      Hello there, Anthony1168.

       

      Making a transfer can be done by going to the Banking page and clicking Transfer Funds. For complete instruction on how to do this, you can refer to ToriB's answer above.

       

      Feel free to browse this link here if you need help with other tasks in QBDT. It'll route you to our general topics with articles. 

       

      Should you have other questions about making transfers in QuickBooks, feel free to leave a post below. I'm always here to help.

      F
      FPChurch
      May 13, 2022

      What about transfer of money between two chart of account line items?  Same bank account, but just transferring funds to where it should be accounted for...you do not use this method do you?  I am a newbie to QB and get very confused on this, as we have multiple bank accounts, and we are moving money around inside those accounts too.

      JenoP
      JenoPQuickBooks Team
      QuickBooks Team
      May 13, 2022

      Hi there, FPChurch.

       

      Are the lines item set up as sub-accounts? Can you also tell us what version of QuickBooks you're using? It is Desktop or Online?

       

      We're asking these questions to make sure that we're giving you the right steps and information to sort this one out.

       

      Please add a reply below to share more details. We look forward to it. Thanks. 

      A
      Anonymous
      April 26, 2023

      I want to know how to assign a unique document no for a bank transfer voucher and how to print it as well.

      R
      ReymondOModerator
      Moderator
      April 26, 2023

      Thank you for visiting the QuickBooks Community page, @2168328.

       

      Are you trying to attach a document while creating a bank transfer and also printing it? 

       

      If so, we can utilize the Attachments section in the Transfer window to link your file. However, the option to print it is unavailable in QuickBooks Online  (QBO). 

       

      Here's how to attach a document:

       

      1. Click New and select Transfer.
      2. Enter the required information, then click Attachments.
      3. Choose your file and click Open.
      4. Once done, select Save and close.

      Alternatively, you can provide feedback regarding the printing limitations. This will allow our product engineers to review your suggestions and potentially incorporate them into future updates.

       

      Simply follow these steps:

       

      1. Select the Gear icon at the top and click Feedback.
      2. Enter your comments or product suggestions. Then, select Next to submit feedback.


      We greatly value your feedback, as it is forwarded to our Product Development team to enhance your experience in QBO. You can monitor feature requests by visiting the QuickBooks Online Feature Requests website.

       

      Please feel free to reach out to me anytime if you require further assistance with QuickBooks Online. My goal is to ensure that you always achieve your desired outcomes in your bookkeeping. Take care and stay safe!

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