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How do I record moving money from one bank account to another?


Option 1 - If you are moving the money through an online bank wire, then you can record that as a Transfer.

 

Option 2 - If you need to write a check out of one account, and deposit it into the other acccount (example: you are working with two different bank accounts), these are the steps:

Step #1) Write the check

Go to Accounting > Bank Account > New Vendor Payment (on the submenu)

You will need to use a Vendor with the property name, so that you can deposit that check.

You will code this Vendor payment to a temporary GL account (it does not matter which one. This will be a wash entry)

Print out the check

Step #2) Record the deposit

Go to Accounting > Bank Account > New Transaction

Select the bank account that received the deposit.

Type = Deposit

Category = Teller Deposit

Description = Describe the transaction

Amount = Enter the amount of the deposit

On the right side of the screen, enter the same temporary GL Account that you coded the Vendor Payment to in Step #1.

 

These steps will show the money leaving one bank account, and being deposited into the second bank account.

 

 

 

 

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