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Level 1

Transfer

Hello, 

I need some help. I have some transfers sitting on my general account as credits from a bank account that won't be included in QB. The transfers are sitting as debits on the account not in QB. How would I record these transfers in QB?

Solved
Best answer May 26, 2020

Best Answers
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QuickBooks Team

Transfer

Thank you for getting back to us, @Mgillia2.

 

Since the bank account that you'd like to transfer the amount is not in QuickBooks, then I suggest you to just create an expense. 

 

Here's how to create an expense:

 

  1. Click the + New button and select Expense.
  2. Select the Payment account to which to credit this expense.
  3. Enter the date in the Payment date field and specify the payment method for the expense.
  4. Enter the amount.
  5. Select Save and close or Save and new.

Check this article for more information on how to enter, edit, or delete expenses in QuickBooks Online. Also, the following article on how to transfer funds between accounts

 

Let me know if there's anything that I can help you with. I'm always here to assist. Have a wonderful day!

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6 Comments
Highlighted
QuickBooks Team

Transfer

Welcome to QuickBooks, Mgillia2.

 

Every bank deposit creates a separate record in QuickBooks Online (QBO). You can enter those transactions as a deposit. Let me guide you with the steps.

  1. Click+ New.
  2. Select Bank Deposit.
  3. From the Account drop-down▼menu, choose the account you want to deposit the money into.
  4. Select the box for each payment you want to combine. Make sure the deposit total and selected payments match your deposit slip. Use your deposit slip as a reference. Remember, only select payments you need for each deposit.
  5. Click Save and close.

However, if you're using QuickBooks Desktop, you can follow the steps in this article: Record And Make Bank Deposits In QuickBooks Desktop.

 

For future reference, you can check out these articles for more information: 

Let me know if you need any help from us. I'll always be here to assist.

Highlighted
Level 1

Transfer

I'm not making any new transfers. I'm just trying to record transfers that are sitting on the account now.  My only issue is the account that transferred the money into my general is not in QuickBooks. Can I still do this ?

Highlighted
QuickBooks Team

Transfer

Hi there, @Mgillia2.

 

The best way to record these transfers is to add the account that you're transferring the money out of. This will allow QuickBooks to reflect the transfer correctly. You can add a new account in the Chart of Accounts by following these steps:

 

  1. Go to the Accounting tab and choose Chart of Accounts.
  2. In the top right-hand corner, select New.
  3. Enter the Account Type, Detail Type, and Name.

 

        4.Hit Save and close.

 

 

Now you have the account you're pulling the money from to record the transfer. You can also add the bank account in the Banking tab if you want the transactions from that account pulled into QuickBooks. 

 

Feel free to reply below if you have any other questions. I'm always here to lend a helping hand.

Highlighted
Level 1

Transfer

Yes, I understand that but we're not doing that. We're not adding the account the money was transferred out of to QB. 

Highlighted
Level 1

Transfer

Yes, I understand that but we're not doing that. We're not adding the account the money was transferred out of to QB. 

Highlighted
QuickBooks Team

Transfer

Thank you for getting back to us, @Mgillia2.

 

Since the bank account that you'd like to transfer the amount is not in QuickBooks, then I suggest you to just create an expense. 

 

Here's how to create an expense:

 

  1. Click the + New button and select Expense.
  2. Select the Payment account to which to credit this expense.
  3. Enter the date in the Payment date field and specify the payment method for the expense.
  4. Enter the amount.
  5. Select Save and close or Save and new.

Check this article for more information on how to enter, edit, or delete expenses in QuickBooks Online. Also, the following article on how to transfer funds between accounts

 

Let me know if there's anything that I can help you with. I'm always here to assist. Have a wonderful day!

View solution in original post

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