Get started with bank transfers
Use a bank transfer to record money leaving a sending bank account and moving to a receiving bank account. QuickStart first records the withdrawal as an in-transit transfer and then records the receiving side through a linked bank transfer deposit; both steps are required to complete the movement.
Before you create a bank transfer, open Menu, select Accounting > Chart of accounts, and create at least two active bank accounts. See Create an account. Then open Accounting > Settings, open Accounting preferences, select an account in the Intermediary account field, and select Apply.
Open Menu, select Banking, select Cash management, and then select Bank transfers.
Creating a bank transfer records the sending side of the movement. QuickStart credits the sending account, debits the default intermediary account, and gives the transfer an In transit status. You must then create a bank transfer deposit to record the receiving side and change the status to Deposited.
After a transfer is deposited, delete its bank transfer deposit before editing or deleting the original bank transfer.