Monday, June 25, 2012

QuickBooks: Recording the Transfer of Funds

Can you help me?  I’m trying to reflect what happens in real life when you transfer money from one bank account to a different bank account.  What steps do I need to take in QuickBooks?

The steps you should follow in QuickBooks to reflect a transfer of money from one account to a different account are:
  • Banking menu
  • Transfer Funds
  • Complete the form that comes up by entering the date and the from account and to account boxes along with the amount of money transferred.  You should include the confirmation number that the bank gives you in the memo line.

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