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How to transfer funds between bank accounts

SOLVEDby IntuitEasyACCTUpdated October 08, 2021

This article will assist you with transferring money between bank accounts or writing checks from one bank to deposit into another using EasyACCT.

For the cash transfer to be treated properly in each account's bank reconciliation, the entry must be handled as a journal entry or a number less than 100. Don't use CD or CR entries.

Example

In this example, $10,000 is being transferred from bank 103 to 104. The two bank accounts are represented by general ledger accounts 103 and 104.

Ref #AmountAccount
JE10010,000.00104
JE100-10,000.00103

If a check was written from one account to the other account, use JE in front of the check number. For example, check #1234 was written from bank account 103 and deposited into bank account 104.

Ref #AmountAccount
JE123410,000.00104
JE1234-10,000.00103

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