how to log a transfer from one business account to another sam name and ein

Thanks for joining us here in the Community, Zionna.

I'm happy to provide details about transferring funds from one business account to another in QuickBooks Desktop.

This can be done in a few steps. Here's how:

1. From the Banking menu, click Transfer Funds. 

2. In the Transfer funds from dropdown, choose which account you wish to move the funds from. 

3. From the Transfer funds to dropdown, select the account you need to move the funds to. 

4. Enter the Amount and Date. 
5. Choose Save and Close. 
 

Please feel free to reach back out in the comments below if you have any other questions. The Community always has your back!

I think I worded this wrong. How should I log the transfer in quickbooks? The CPA needs better categorization/description for the expenses and the transfer in question.

You can use the memo field as an alternative for logging the transfer of funds, @Zionna.

Currently, the feature to directly log or categorize transfers for detailed tracking is unavailable. However, you can use the memo field to document the purpose of the transfer. Here’s how:

1. Navigate to the Banking menu and select Transfer Funds.
2. In the Transfer funds from dropdown, choose the account from which you want to move the funds.
3. From the Transfer funds to dropdown, select the account where the funds will be transferred.
4. Enter the Amount and Date of the transfer.
5. Use the Memo field to describe the purpose of the transfer (e.g., Funds Transfer or For logging purposes).
6. Click Save and Close.

If you have any other concerns about logging the transfer in QBDT, feel free to comment below.