From time to time you may be moving money from one bank account to another, or perhaps moving money to an investment account.

In these cases, you need to show a transfer, as opposed to a transaction. Transactions are intended to show money moving into or out of your organization as an income or expense.

Transfers allow you to show movement from one asset to another, without recognizing an income or expense.

Linked Bank Accounts:

If both bank accounts involved in the transfer are linked to pull in transaction data automatically then your transfer will essentially be pulled in twice. One bank account will show the money coming in, while the other bank account will show money going out. See below for an exhibit of how this many look initially.

You will need to edit those two transactions to correctly show the transfer, by converting one of those transactions to a transfer and deleting the other transaction. It does not matter which one is converted and which is deleted.

To convert a transaction to a transfer you can click on the transaction to open the Transaction Details. Then you can click on Convert to Transfer Form, where you can fill out the appropriate details. Then select Update.

After this you can delete the other transaction that was pulled in by selecting the checkbox to the left of the transaction, which will cause a red Delete button to appear on the right of the screen.

No Linked Bank Accounts:

If your bank accounts are not linked and you need to enter a transfer manually you can do so by going to Transactions > Actions > Add Transaction. Switch the toggle to Record Transfer, fill out the appropriate details, and then save.