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August 5, 2021
Question

Can I fix myself a problem that quickbooks is saying "you can't select a transfer to/from the same account you're currently working on"?

  • August 5, 2021
  • 1 reply
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Has anyone ever experienced a glitch that will not let you apply a bank transfer?

1 reply

August 5, 2021

Let me share details on how bank transfer works in QuickBooks Online (QBO), @prochaska2017. With this, you can successfully execute the process and manage your accounts accordingly.

 

When utilizing the Transfer feature in QBO, you need to tag two different bank accounts. You may have selected the same account in the Transfer Funds From and Transfer Funds To fields that's why you've received the error message.

 

You'll have to make sure you select two different bank accounts when moving money from one to another. To do this, here's how:

  1. Go to the + New button.
  2. Select Transfer.
  3. In the Transfer Funds From dropdown field, select the bank account that the money is coming from.
  4. From the Transfer Funds To dropdown list, select the bank account that the money is going to.
  5. In the Transfer Amount field, enter the amount being transferred.
  6. Edit the Date field.
  7. Enter a description of the transfer in the Memo field (optional).
  8. Select Save and close or Save and new to complete the transfer. 

 

Once you're done, I'd recommend opening each account register in the Chart of Accounts to verify that the transfer is successful.

 

To know other transfer options and best practices to avoid mistakes, you can check out this article: Transfer funds between accounts.

 

Also, when you have more than one business using QBO, you can transfer funds from one company to the other. If you wish to know more about this process, check out this article: Transfer funds between companies.

 

Please let me know if you have any other bank transfer concerns. I'm always here to provide further assistance. Have a great day!