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suzannek1
Level 4

How do I move a payment from clearing account to checking account?

Bill.com added a clearing account to QBO.   How do I move that payment to the checking account.
5 Comments 5
Rainflurry
Level 15

How do I move a payment from clearing account to checking account?

@suzannek1 

 

When you pay a bill, Bill.com creates an entry that debits (increases) the Clearing Account and credits (decreases) your bank account.  Then, when Bill.com actually issues the payment, the next time you sync, Bill.com creates another entry that debits (reduces) A/P and credits (increases) the Clearing Account.  Then, when you reconcile the Clearing Account, all entries should net to zero.  There is no adjusting entry that you should need to make.  Is that not what you're seeing?   

SheandL
QuickBooks Team

How do I move a payment from clearing account to checking account?

Thank you for reaching out to us, @suzannek1

 

Recording transactions is essential to ensure that you will have receipts for transaction transfers and to be able to keep a record of them. In QuickBooks, transferring money from one account to another always requires recording each transaction. 

 

Importing your payment from your clearing account to your checking account is possible by following these steps:

 

  1. Click on the + New.
  2. Select Transfer.
  3. Click on the Transfer Funds Form, then select clearing account.
  4. Click on the Transfer Funds Form, then select the checking account.
  5. Edit the Date field.
  6. You can also write descriptions of the transfer in the Memo field.
  7. In the bottom right, click Save and Close or Save and New to complete the transfer.

 

If you want to check and track all your accounts in QuickBooks, categorize your transactions, and see where all recorded transfer is found, you can check your chart of accounts.

 

Let me know if this works on your end. If you need further assistance, the Community is always here to help.

suzannek1
Level 4

How do I move a payment from clearing account to checking account?

Well that is simple.  I was wondering if that was all i had to do.  Thank you.

suzannek1
Level 4

How do I move a payment from clearing account to checking account?

That did not happen.  No entries were made in the checking account at all.  Only the one entry was made in the Money Out Clearing account.  I cannot remember if it was a debit or credit.  I had to do a manual transfer from checking acct to clearing acct.  and yes, it has already been paid and bill.com was synced.

suzannek1
Level 4

How do I move a payment from clearing account to checking account?

P.S.  

 

I did fix a sync error after they were processed.  So maybe that affected it.

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