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Marco Sagnelli
Level 1



I have recorded a transfer between my accounts, however the account where the money left is showing the last day of feb and the account where the money was received is showing the first day of March, and my statement wont match my BS. ant advise?

QuickBooks Team

Thanks for asking us here in the Community, @Marco Sagnelli


In QuickBooks, we use a Clearing Account to move money from one account to another account. This way, you can transfer and match your transfers in QBO. 


Here's how:  


  1. Choose Accounting and select Chart of Accounts.
  2. Click New, then select the Bank under the Account Type drop-down.
  3. Select the Detail Type. While you can choose from several types of accounts, the best is a bank account because of the following reasons:
    • You can pay into a bank account via Receive Payments or Make Deposits.
    • You can pay out of a bank account via Write Checks or Pay Bills.
    • A bank account appears on the balance sheet and on the statement of cash flows to balances and changes in balances.
    • To allocate expenses to overhead or class using a zero check, you must use a bank account as your Clearing account.
  1. In the Account Name field, enter Clearing AccountBarter Account or Wash Account.
  2. Do NOT enter an opening balance, then click Save & Close.


Once done, follow the steps to transfer funds between accounts.


You also want to review all the recorded transfers in your Chart of Accounts


I'll always be here if you have any other questions about transferring funds, @Marco Sagnelli. Take care!


Marco Sagnelli
Level 1

Thank you for your response, I am not sure this is hat Im looking for.


I recorded the transfer already and match it in both of my bank accounts, however the account where the money left recorded it in the last day of February and the once receiving it recorded it the first day of march, is there a way to make this to be recorded in the same day? My balance sheet is not matching my bank account statement because of this different timing.

QuickBooks Team

Thanks for getting back to this thread, @Marco Sagnelli.


Allow me to add more details about your banking concerns in QuickBooks Online (QBO). 


The dates of transactions downloaded in QuickBooks depend on why your bank approves them. Thus, changing its date is unavailable in the program. 


However, we can exclude them from the bank register and record the bank transfer inside the program. This way, you can record them as a single transaction and set a specific date. Doing this will help you match your balance sheet and bank statement.


Here's how:


  1. Go to the Banking menu and select the Banking tab.
  2. From the For Review tab, check the box of the transactions you want to exclude.
  3. Click Exclude.


Once done, you can now create a bank transfer to record the transfer of funds.


Additionally, you can reach out to your accountant for further advice in handling your bank transactions in QuickBooks. This way, we can ensure that your books are accurate. 


Moreover, you can find the recorded transfer by opening each account register in the Chart of Accounts.


The Community always has your back, so please let me know if you have any other questions. I'll be more than happy to help. Keep safe.