Yes, you can use journal entries to earmark funds for certain purposes using classes. When creating journal entries, you can select a class under the Class column given that the feature is enabled from the Accounts and Settings.
You may seek help from your accountant is doing the process to account for your transactions accordingly. If there are downloaded transactions from the Banking page, you may exclude them since classifying them as a transfer and recording journal entries may cause duplicates.
Click on Banking at the left pane, then go to the Banking page.
Should I use journal entries to earmark funds for certain purposes using classes?
Thank you for your response. I think I was more wondering if it was appropriate to do it that way or whether there was a better way (best practice) to do it from an accounting perspective (this is all new to me). Originally, I was going to transfer the funds from one bank account to another and then add a journal entry on the receiving end to earmark the funds. This seemed like it might be a bit convoluted, but I figured it would eliminate the problems mentioned with downloaded transactions