Transfer Funds Between Bank Accounts

Step 1. Select Accounting>Money In.

Note: The Cash account is directly affected by the "Amount". If a positive amount is entered, the cash account will receive a debit entry. If a negative amount is entered, the cash account will receive a credit entry. The Income account will receive the offsetting entry.

Step 2. Set the Payment Method to "Receive Misc".

Step 3. Set the Received From field to the Address ID that represents your company, or your bank (this is personal preference).

Step 4. Set the date of the transfer.

Step 5. Add the Check #. This should be the date without any slashes (example: 081320).

Step 6. Set the amount transferred.

Step 7. Enter the Description as "Transfer from XXXX to XXXX".

Step 8. The Cash Account will be where the money will go into.

Step 9. The Income Account is the account the money will be coming out of.

Step 10. Select Post Payment.