How to Transfer Funds between Accounts in QuickBooks Online

How to Transfer Funds between Accounts in QuickBooks Online: Video

         This video lesson, titled “How to Transfer Funds between Accounts in QuickBooks Online,” shows you how to manually record a funds transfer you made at your bank in QuickBooks Online. This video lesson is from our complete QuickBooks Online tutorial titled “Mastering QuickBooks Online Made Easy.”

Overview:

            To transfer funds between accounts in QuickBooks Online, hover over the “+ Create” button in the Navigation Bar and then click the “Transfer” link under the “Other” heading in the drop-down menu to open the “Transfer” window. This window lets you record a bank transfer within QuickBooks Online Plus that you already made with your bank. It doesn’t create an actual funds transfer between accounts at your bank.

            To select the account from which to transfer the funds, use the “Transfer Funds From” drop-down. To select the account into which to transfer the funds, use the “Transfer Funds To” drop-down. The “Balance” of each account appears to the right of its drop-down.

            Enter the amount of funds to transfer between the selected accounts into the “Transfer Amount” field. Then enter the date of the funds transfer into the “Date” field. To enter a note about the funds transfer, type it into the “Memo” field. To attach files to the funds transfer, use the “Attachments” field.

            The toolbar at the bottom of the screen contains buttons used to manage the funds transfer. To cancel the funds transfer, click the “Cancel” button in the toolbar at the bottom of the screen. To clear the information from the “Transfer” window, click the “Clear” button. To create a recurring funds transfer, click the “Make recurring” button. To save the funds transfer and then close the window or open another new window, click or select a choice from the “Save and new / Save and close” drop-down button at the right end of this toolbar.