Create a bank transfer

Create a bank transfer to record money leaving one bank account and moving to another bank account. Open Menu, select Banking, and then select Deposits & transfers.

Before you begin

Open Menu, select Accounting > Chart of accounts, and create at least two active bank accounts. See Create an account. Then open Menu, select Settings > Accounting > Default accounts, select an account in the Intermediary account field, and select Apply. The sending and receiving accounts must be different.

Create the bank transfer

1. Open Menu, select Banking, and then select Deposits & transfers.
2. Select the Transfers tab, and then select Create bank transfer.
3. Select the sending account and enter a positive amount, date, and memo, as needed.
4. Select the receiving account.
5. To record a fee, select Add fee, select the fee account, enter a memo and positive amount, and then apply the line.
6. In the Accounting section, review the posting period.
7. Select Submit.

QuickStart credits the sending account and debits the default intermediary account. Any fee also affects the selected fee account. The bank transfer has an In transit status until you create its bank transfer deposit.

Learn more

• Bank transfer
• Get started with bank transfers
• Create a bank transfer deposit
• Delete a bank transfer