How to Record a Bank Transfer in QuickBooks 2019

Watch the QuickBooks 2019 video tutorial below. Learn about different banking activities that are available in QuickBooks and how to record a bank transfer from one account to another.

We are working in module seven and we’re talking about the different banking activities that are available in QuickBooks. We’re all the way down now to section four and this is the section where I want to show you how to do bank transfers.

A bank transfer means that you transfer money from savings into the checking account or vice versa. Anytime you need to move money from one account to another. You can use the bank transfer option to do that.

Let me show you how it works in QuickBooks.

You can go into your check register and type your transfer on the next available line. But, the easiest way to do this is to use the bank transfer option. You’ll find that under Banking on the menu, Transfer Funds.

The first thing you’ll want to do is pick a date for your transfer. And if you’re using the class feature make sure you pick the correct class.

All you have to tell QuickBooks is which account you’re moving the money from and which account you’re moving the money into.

The next thing you want to do is tell QuickBooks how much you’re going to move. I’m going to move $5,000. And that’s really all you have to do.

I’m going to hit Save & Close and it will pop up with a message. Basically, telling me that since I don’t have this little box checked, the transfer is only going to happen in QuickBooks. And that’s fine! I’m going to click OK and let’s go look at it.

I’m going to look at my checking account. Then, I’m going to scroll down near the bottom. I changed the date on purpose (so we could find it easily and there it is). You can see that I’m in the checking account, and the money is coming out of the savings.

If I was typing it in the register, I would type it this exact same way. That is really all you have to do to create a transfer.

Well, we’ve got one more thing to cover in this module and that’s going to be reconciling. Let’s head on over to section five and I will show you how to reconcile your checkbook.

Cindy McGuckin

Cindy McGuckin is an IT trainer with over 20 years of experience. Cindy currently manages the IT Training Department at Trident Technical College, she's a Member of the Association of IT Professionals, Charleston, SC chapter and the Treasurer of the South Carolina Association of Continuing Higher Education. Cindy is a Microsoft Office and QuickBooks expert and her online courses have received hundreds of 5-star reviews. Her no-nonsense approach to teaching complicated topics makes her classes engaging and interesting.