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October 15, 2021
Question

Can I transfer monies to my connected bank account?

  • October 15, 2021
  • 1 reply
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1 reply

JoesemM
October 15, 2021

Thanks for taking the time to share your concern, @miab-bbnycleanin.

 

Yes, you can transfer money to a connected bank in QuickBooks. You may need to set up an account you already linked for online banking a second time for QuickBooks Cash. Just follow the steps, I've shared below:

 

  1. Go to the Cash Flow menu, then select Transfer money in the QuickBooks Cash section.
  2. Click Transfer in. You won't transfer money yet, we just need to start the connection.
  3. Follow the onscreen instructions.
  4. Enter the bank's name and select a type in the Account Type field. 
  5. Click Next.
  6. Enter your info in the Account number and Routing number fields. Then select Next.
  7. Hit Sounds good.

 

QuickBooks will send two small deposits to the account within the next three (3) days. Then, you get the confirmation email and come back to QuickBooks to verify the transactions.

 

After setting up everything, you can now transfer money into your QuickBooks Cash account:

 

  1. Go to the Cash Flow menu.
  2. In the QuickBooks Cash section, select Transfer money.
  3. Select Transfer in.
  4. In the From field, select (+). Then select your connected bank account.
  5. In the To field, select your QuickBooks Cash account.
  6. Enter the amount you want to transfer.
  7. When you're ready, select Finalize transfer.

 

For further reference, feel free to check this article: Get started with the Cash Flow menu.

 

However, if you're referring to sending funds from QuickBooks to an outside bank, this is currently not an option in our program. QuickBooks doesn't hold funds as any financial institution does. We only collate the entries from the downloaded bank data, and the transactions entered in the program to get the balance to sync. Here's an article to help you manage transfers in QBO: Transfer funds between accounts.

 

Additionally, I recommend reading these articles to learn the tips and tricks in using the Cash Flow feature:

 

 

In case you need to your bank transactions in QuickBooks. This article can help you with the steps and details: Categorize and match online bank transactions in QuickBooks Online

 

You can always count on the Community if you need more help in managing your account. Assistance is just a post away. Stay safe and healthy, @miab-bbnycleanin.