SpokenBride
Level 1

Transferring funds between banks

 I transferred money we had been saving from a credit union to PayPal and then to our new bank. How do I categorize this transaction?

AlcaeusF
Moderator

Banking

Welcome to the Community, @SpokenBride.

 

When transferring funds between accounts, It's important to choose the closest one that makes the most sense. I suggest choosing the Transfer option as the category for this type of transaction (see screenshot below).

 

 

For future reference, visit the Categories in QuickBooks Self-Employed article. It contains insights about the categories available for your transactions.

 

I want to make sure this is taken care of for you. If you have additional questions or concerns while working in QuickBooks Self-Employed, leave a comment below. I’m here ready to help you.