How To Complete A Bank Transfer
What you need to know:
A bank transfer is used in accounting to record money moved between two bank accounts. Common examples include transferring funds from a chequing account to a savings account, paying a credit card, or moving money between business accounts. Recording the transfer keeps both bank balances up to date and provides a clear record of where the money came from and where it went.
What you need to do:
Identify the bank accounts where the money is being transferred from and being transferred to
Confirm the transfer amount and the date
Prepare a memo or reference number if you want to include one for tracking purposes
Gather any notes you want to add before saving the transfer
How to (Step by Step):
Click Banking
Click Bank transfers
Click New bank transfer
Choose the Transfer from bank account and select the account type
Choose the Transfer to bank account and select the account type
Enter the Amount to transfer
Enter the Date of the transfer using the calendar or by manually typing the month, day, and year
Enter a memo if you wish to add an optional note
Enter a reference if you wish to identify transactions and invoice numbers on your printed statements
Click Review to confirm the transfer looks correct
Click Notes to add any notes you wish to document
Click Save and new to record the entry and add another or, Save and close to record the entry.
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