Transfer Money Between Accounts

You can transfer money between accounts by adding a money transfer or by using the quick transfer.

Add a Money Transfer

Money transfers move money from one account to another. This usually occurs between expense accounts or between savings and checking accounts.
  1. On the Transactions tab, click Journal Entries > Money Transfers.
  2. At the top, click Add Transfer. The reference number is automatically filled in.
  3. Enter the month. By default, this is the current fiscal month, but you can change it to any month that has not been closed.
  4. Enter optional notes about the money transfer.
  5. To upload additional documents that support the money transfer, click Add Documents.
  6. In the Distribution grid, enter how you want to distribute this money transfer.
    Note:

    You must enter at least one debit and one credit amount in the grid. The total amount of debits must equal the total amount of credits.

    The date for each line defaults to the first day of the month, but you can set it to any day in the month.

  7. At the top, click Save.

Use Quick Transfer

Quick Transfer creates a simple journal entry that moves money from one asset to another (for example: savings to cash) or one expense account to another.

  1. On the Transactions tab, click Journal Entries > Money Transfers.
  2. In the navigation pane, click Quick Transfer.
  3. In the Quick Transfer dialog box, enter the date of the transaction.
    Note: The date cannot be in a closed month.
  4. Select the account that the money is being transferred from and the account that the money is being transferred to.
  5. Enter the amount.
  6. Enter an optional description of the money transfer.
  7. At the top, click Save.

The journal entry displays in the Money Transfers window, the From Account is credited, and To Account is debited.