How to Transfer Funds Between Bank Accounts in QuickBooks

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In Brief...

Follow these seven steps to record funds transfers between bank accounts using the Transfer Funds Between Accounts window in QuickBooks.

This feature works the same in versions 2011–2016 of QuickBooks.

Instructions

  1. From the menu, select Banking > Transfer Funds.
    Transfer Funds
    The Transfer Funds Between Accounts dialog box opens.
    Transfer Funds Between Accounts Dialog Box

  2. In the Date field, type or select the date of the transaction.

  3. From the Transfer Funds From drop-down list, select the bank account to transfer money from.

  4. From the Transfer Funds To drop-down list, select the bank account to transfer money to. (Notice that the balance for each account is displayed.)

  5. In the Transfer Amount field, type the amount to transfer.

  6. In the Memo field, type a memo about the transfer or accept the default memo.
    Transfer Funds Between Accounts Dialog Box

  7. Review the transaction, then click Save & Close.
    QuickBooks automatically adjusts the balances for each account, and the current balances are reflected in the Chart of Accounts window and the Account Balances window.

Author: Lee Fifield

Lee is a writer, editor, and technology evangelist. Lee received her undergraduate degree in Communications from Ithaca College.

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