Record a transfer between business accounts

Moving $500 from business checking to business savings reduces checking by $500 and increases savings by $500. It creates no sales income or ordinary expense.

Review the bank movement

1. Open Banking → Bank transactions, select the account, and find the transfer in Pending.
2. First inspect Match for an existing transfer already in your books. If it exists, match it rather than categorizing another transfer.
3. If it is unrecorded, open Categorize and select the Transfer transaction type. The match panel also offers Record as transfer when no matching record is found.
4. Select the other business account in Transfer to/from in the inline form. In the expanded form, review From Account and To Account alongside the bank row’s money-in/money-out direction; the feed account is fixed.
5. Review the amount, date, reference, and the posting confirmation before saving the category.
6. Open the other account’s bank activity and match the counterpart to the existing movement when offered. Do not independently create the same transfer twice.

This records a transfer in the books. It does not instruct a bank to move money.

Check both accounts

Account, $500 transfer with no fee	Expected movement
Checking	−$500
Savings	+$500
Combined cash	$0 change
Revenue or expense	$0

Reconcile each account to its own statement. Posting dates may differ across banks. A transfer can be outstanding on one side at a statement date.

Record a separately charged bank fee as a separate expense. If the statement combines principal and fees, review the breakdown before using a simple transfer; do not force unequal amounts to match.

If the other account is missing

Confirm it belongs to the same company and has an appropriate bank/cash account type. The source and destination must differ. Personal withdrawals/funding and payments to an outside vendor are not transfers between two business bank accounts; use the appropriate owner-money or purchase workflow.

Related walkthrough

For the initial account and matching controls, see the illustrated bank-review example. Its receipt example is not a transfer: choose the Transfer type only for an actual movement between your company’s accounts.