Transfer Funds Between Bank Accounts

Transfer Funds Between Bank Accounts

How to record a transfer of money from one bank to another

You can record the transfer of money between any bank accounts setup in Cashbook. You can also record payments to credit cards by transferring the funds to the credit card account.

To transfer money between accounts:

  • Click on the Cashbook toolbar icon.
  • Click on the Selected Bank drop-box arrow to select the bank that the money is being transferred from.
  • Click on the Add button.
  •  Click Yes to the Confirm message:
 
In the Add Transactions window for that bank account:

  • Click on the Transfer To radio dial.
  • Enter a Date.
  • Reference - auto fill (no need to enter anything)
  • Gross Amount - enter the dollar amount.
  • Click on the To Bank drop down arrow to select the bank account the money is being transferred to.
  • Description - auto fill.
  • Click on the OK button to save.
 
Result - a Payments transaction with be added to this bank account (i.e. the bank the money is leaving).

 
Result - A corresponding Receipts transaction will be added to the other bank account. (i.e. the bank the money was transferred into.)

For example:



CSC Article ID 4208