Using Quickbooks Payments to transfer money between my own accounts

Hi, amidas.

The process you're doing is correct. You can transfer the deposit via the ACH feature in QuickBooks Online. To pay the bill, here's how:

1. Sign in to your QuickBooks Online account.
2. Navigate to the Pay bills online page by the following:
   • Select + New. Then Pay Bills Online.
   • Selecting the Bill Pay Online dashboard widget.
   • Selecting the Expense tab, then Pay Bills Online.
3. To set up a vendor with open bills, select Set up Bank Transfers within the same line as the Payee. (Note: To set up a vendor before there are open bills select Set up vendors for bank transfers. You'll need the account number for the vendor.)
   
4. Choose to Enter the vendor's bank account info.

5. Tap Next.

6. Enter the vendor's bank account information.
7. Hit Save.

To know more about this process, check out this article: Set up a bank transfer to a vendor. This will provide you additional information on how ACH works in QuickBooks Online.

You can also use the Transfer funds feature in QuickBooks Online to move the deposit. However, this is just for recording purposes only. You'll need to manually process the transaction to the actual bank to get the money transferred to the respective account.

If there's anything else I can help you with, please let me know. I'll be around to keep helping.

Thank you for replying, @Rose-A. But you explained how to pay bills online. That was not the question. 

I wanted to know if there is a better way to transfer money between two bank accounts of the same company in different banks, using the ACH feature of Quickbooks Payments. 

In this case, I created a bill to "pay" myself in order to use this feature, and I wanted to make sure it was booked correctly. 

Thanks.

Hello there, @amidas.

I appreciate you for getting back to us here in the Community. Allow me to step in and share some clarification about using QuickBooks Payments.

The ACH method is applicable only for customers who want to bank transfer the payment. We don't recommend using QuickBooks Payments to move funds from your bank accounts.

Entering transactions like a bill or invoice will affect your financial data in the system. To ensure your books are accurate, I suggest performing any fund transfer outside QuickBooks.

For more information about adding transactions from a linked bank account, as well as how to transfer funds manually in QuickBooks, I recommend the following articles:

• Categorize and match online bank transactions in QuickBooks Online
• Transfer funds between accounts

Keep us posted if you need anything else regarding transferring funds. Have a great day.