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TBEmporium
September 24, 2022
Question

I would like to transfer funds from one business account to another business account how do i record the transfer in quickbooks

  • September 24, 2022
  • 1 reply
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1 reply

September 24, 2022

I've got the steps on how to record a transfer in QuickBooks Online, TBEmporium.

 

You can use the Transfer feature when moving funds between two accounts in QBO. I'll guide you on how to do it:

 

  1. Go to the New (+) button.
  2. Select Transfer.
  3. Choose the bank account where the funds are coming out from the Transfer Funds From the drop-down list.
  4. From the Transfer Funds To drop-down list, select the checking account that the funds are is going to.
  5. In the Transfer Amount field, enter the amount being transferred.
  6. Edit the Date.
  7. Click Save and close.

 

You can also create a transfer between two accounts using any of the following:

  • Check
  • Imported Bank Transaction
  • Journal Entry

 

For more details, check this article: Transfer funds between accounts.

 

If you need help reconciling your account, here's a link for the complete steps and guide: Reconcile an account.

 

You can get back to me by commenting below if there's anything else you need managing your accounts in QBO. 

I'll be sure to lend a hand.