Steps
- Open List Accounts. In the sidebar, open Payment Accounts and click List Accounts. Fund Transfer and Deposit appear only on open accounts.
- Start a transfer. On the account the money is leaving, click Fund Transfer. Selected Account shows that account.
- Fill in the transfer. Choose Transfer To, enter the Amount and Date, add a Note and, if you have one, Attach Document such as the deposit slip. Click Submit.
- Record a deposit. On the account receiving money, click Deposit. Enter the Amount, choose Deposit From if it came from another of your accounts, set the Date, add a Note and click Submit.
- Check the account book. Click Account Book on either account. The transfer shows as Fund Transfer (From or To the other account) and the deposit as Deposit, with the running balance.
- Undo a mistake. In the Account Book, use Delete on the fund transfer or deposit line to remove it.
Transfer or deposit
Use Fund Transfer when money moves between two of your own accounts, like cash taken from the till to the bank. Both sides are recorded in one step. Use Deposit for money coming into an account, such as an owner's top-up. If it came from another of your accounts, pick it in Deposit From.
Neither changes your sales or expenses. They only move balances between accounts, so Profit / Loss is not affected.
Frequently asked questions
How do I record taking cash from the till to the bank?
Set up a cash account and a bank account under List Accounts. On the cash account, choose Fund Transfer, set Transfer To to the bank account, enter the amount and date, and attach the deposit slip if you like. Both balances update straight away.
Why don't I see Fund Transfer on an account?
The account is closed. Fund Transfer, Deposit and Close show only on open accounts. Set the Status filter to Closed, click Activate on the account, and the actions come back.