Recording a Transfer

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Transfers can occur only from Asset to Asset, Liability to Liability, Income to Income, or Expense to Expense accounts.

  1. Click the “New Transaction” drop-down menu and select “Transfer.”
  2. Enter the memo (optional).
  3. Enter the date.
  4. Type the name of the first account and enter the amount.
  5. Type the name of the second account. The amount entered for the first account will automatically be entered for the second account.
  6. If you wish for the transfer to recur, click the “Make Recurring” button and then enter your recurring information.
  7. Verify your information in the Debits and Credits sections; then click the “Save” button.

Note: After you select your first account, the system will allow you to select only the same type of account. For instance, if you select an Income account for your first account, you will only be able to select an Income account for your second account.

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