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January 14, 2024
Question

How do I record a balance transfer from one credit card to another

  • January 14, 2024
  • 1 reply
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1 reply

January 14, 2024

Hi there, @rmimpressions.

 

I aim to provide insights on recording a balance transfer from one credit card to another in QuickBooks Online.

 

If you haven't imported the transaction from your bank yet, here's how to record a money transfer directly in QuickBooks:

 

  1. Select + New.
  2. Select Transfer.
  3. From the Transfer Funds dropdown list, select the bank account from which the money is coming.
  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.
  9. Select Yes if you double-checked the date.

 

You can find the recorded transfer by checking each account register in the chart of accounts.

 

Moreover, I'll be sharing the following resources to help you learn how to review downloaded bank and credit card transactions in QuickBooks Online: Categorize online bank transactions in QuickBooks Online.

 

Please let me know if you have further questions or clarifications about recording a balance transfer from one credit card to another. The Community is always here to help 24/7. Have a great day!