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November 23, 2024
Question

HOW TO POST TRANSFER FROM MONEY MARKET TO THE CHECKING ACCOUNT

  • November 23, 2024
  • 1 reply
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how to post activity from money market account to the checking account

    1 reply

    November 23, 2024

    Hi there, rosalina

     

    You can use different ways to record a transfer of funds between two accounts in QuickBooks. These are the following methods you use: 

     

    • Manually record a transfer
    • Record the transfer by cheque
    • Match a transfer from your downloaded bank transaction
    • Create a Journal Entry(JE) for the transfer (must be consulted with an accountant first) 

     

    If you want to manually record a money transfer directly between two accounts, follow the steps below: 

     

    1. Click on + New.
    2. Choose Transfer.
    3. From the Transfer Funds From dropdown list, select the Money market account.
    4. From the Transfer Funds To dropdown list, pick the Checking account.
    5. Enter the amount in the Transfer Amount field.
    6. Set the Date field.
    7. Enter a description of the transfer in the Memo field (optional).
    8. Click on Save and close or Save and new to complete the transfer.
    9. Hit Yes if you double-checked the date. 

     

    For more information on the other options, see this article: Transfer funds between accounts

     

    Also, if you need a complete guide in reconciling accounts in the future, use this reference: Reconcile an account in QuickBooks Online

     

    Keep me updated on any follow-up questions or concerns about the transfer of funds. I'll be available if you need me. Have a wonderful weekend!