How do I transfer money between my bank accounts?

article ID: 2022578 

 

Within your daily business processes it may be necessary to transfer funds from one or more bank accounts. This is a simple process carried out through the journal entry.


--------------------------------------------------------------------------------

 

To transfer funds between bank accounts:


1. Go to the journal entry module (View – Accounting – Journal Entry.)

2. Click New in the top left corner.

3. Ensure you have the correct journal type, date and period.

4. Click on the N/C column and enter the N/C for the bank account that you wish to place the money into.

5. Enter the amount being transferred in the Dr column and press Enter.

6. In the N/C column on the second line, enter the N/C for the bank account that you are transferring the funds out of.

7. Enter the amount being transferred out in the Cr Column and press Enter.

8. Update the ledger.

 

If you require further information regarding the journal entry, please contact support.


Query words: bank, transfer, movement, funds transfer, bank journal, journal, journal entry