Types of bank transfer
Use the Bank Transfer option when moving money between bank accounts set up in Accounting. Depending on what bank accounts you have set up, you may need to record a bank transfer when:
- Moving money between bank accounts such as your current and savings accounts
- Payments to your credit card when the credit card is set up as a bank account
- Repayments of bank loans when the loan is set up as a bank account
Use the Bank Deposit option to record money transferred from a cash account, to a current account.
- Go to Banking and open your cash account.
- From New Entry, select Bank Deposit.
- Enter the details including which account you're depositing money into.
- Click Save.
Record a manual bank transfer
- Go to Banking, then select New and Bank Transfer.
- Enter the details including which accounts you are moving money from, and to.
- Click Save.
Transfers using bank feeds or bank statement imports
If you use bank feeds or import transactions from your bank statement, use the Transfer option on the Incoming Bank Transactions page.
CAUTION: Avoid duplicate transactions.
When importing transactions, remember the bank transfer is included on the bank feed or bank statement for both banks.
To avoid duplicates:
- Create the Transfer from one account.
- Discard or Match the transfer from the other account.
View transfers in a bank account
- From Banking, open the relevant bank account.
- From the Activity tab, enter the relevant date range.
- From More , select Bank Transfer from the Type drop-down list..
- Select Search.
All transfers received into and paid out of this bank account now show in the list of transactions.