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?
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.
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!
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.
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.
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.