Transfer money between bank accounts

There may be times when you want to transfer money between your bank accounts (for example, transferring money from your checking account to your petty cash account) or transferring money between base currency accounts and foreign currency accounts. You may also need to delete or reverse a transfer if it has been entered in error or with incorrect details.

To transfer funds from one bank account to another

1. Go to Banking.
2. On the New menu, click Money Transfer.
3. Complete the following information:

   Paid from Bank Account *	Choose the bank account you want to transfer funds from.
   Paid into Bank Account *	Choose the bank account you want to transfer the funds to.
   Method	Select the payment method.
   Amount Transferred *	Enter the amount you want to transfer between accounts.
   Date Transferred *	Enter the date you want to use for the money transfer.
   Reference (optional)	If required, enter a reference for the transfer.
   Description	If required, enter a description for the transfer.

   * Indicates a required field.

4. If you want to attach a file, select Attachment and then drag and drop the file to the Upload files area or select it to browse to the file.

5. Click Save.

You can also create a money transfer from within the bank account. On the New Entry menu, click Money Transfer.

To delete a money transfer

If you have transferred money between bank accounts in error or with incorrect details, you can delete this and if necessary, enter it again with the correct details.

1. Go to Banking.
2. Select either of the bank accounts used for the transfer.
3. On the Activity tab, select the check box next to the money transfer.
4. Click Delete.
5. Click Yes.

If you have a lot of transactions, to make it easier to find the transfer, you can enter dates in the From and To fields to show the bank activity by date. You can also use the Filter option to show only specific transaction types.

The money transfer is deleted from the activity of both accounts and the bank balances are adjusted accordingly.

To reverse a money transfer

1. Go to Banking.
2. On the New menu, click Money Transfer.
3. Complete the following information:

   Paid from Bank Account	Choose the bank account you originally transferred the money to.
   Paid into Bank Account	Choose the bank account you originally transferred the money from.
   Method	Select the payment method.
   Amount Transferred	Enter the amount you want to transfer back to the original account.
   Date Transferred	Enter the date you used for the original transfer.
   Your Reference (optional)	If required, enter a reference for the transfer; for example, correction.
   Description	If required, enter a description for the transfer.

4. Click Save.

You have successfully reversed the original money transfer and can enter it again with the correct details, if applicable.