Transfer Funds Between Bank Accounts

Transfer Funds Between Bank Accounts

The Transfer to option is used to record funds transfers between bank accounts. Both accounts must be set up in Cashbook to use this feature.

To Transfer Money Between Accounts

Step 1: Select Bank

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

Step 2: Add Transaction 

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 OK to save.

 
Result - A Payment transaction with be added to this bank account, i.e. the bank the money is leaving


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


 

 


Article ID 4208