The company I work for makes A LOT of cash transfers between bank accounts; as in constantly moving cash around depending on which bank account is paying which bill when.
We use Quickbooks Desktop Pro 2020 and use the bank feed transaction import option (linked the bank accounts with QB). Is there a way to record all of the transfers as the transfers that they are? I can't seem to figure it out as it seems the only option is to apply each transaction to an income/expense etc... account.
I do know how to enter bank transfers manually, one at a time, I am specifically trying to record the transfers using the imported transactions on bank feed.
Let me walk you through on how to record the transfers using the imported transactions on the bank feeds.
In the Transaction List, you can click the Added/Approved feature to record the transfers using the imported transactions. Before doing so, ensure to add them so that you'll be able to see the feature by selecting the Quick Add on the Action column.
Go to the Banking menu and then select Bank Feeds.
On the Bank Feeds Center, choose your bank account.
Under Transaction List, click on the Added/Approved to view register from the bank feed.
Double click the transaction that has CHK type.
On the Bank Account drop-down, select the account to transfer.
This way, you'll be able able to record it from the downloaded bank feeds transactions.